How to Effectively Communicate Risk to Leadership

Richard Wilson September 28, 2021

One of the biggest challenges facing organizations today is their inability to truly understand the full scope of their risk profile. Improper tool sets are creating a sense of false security, promoting poor risk awareness and restricting Risk & Compliance leaders from communicating positions effectively. Due to the increasing complexity of supply chains, demands for higher quality products/services and growing regulatory obligations, senior stakeholders, now more than ever, require accurate, up-to-the-second risk information if they’re going to successfully navigate complex environments. 

World’s largest automotive safety supplier introduces AuditComply to simplify a complex supplier network

The customer recognized the need to unify and consolidate their Audit, Quality and Supply Chain management functions. Requiring an agile platform that could assess thousands of global suppliers.

This means active listening. Translating field data into actionable risk intelligence that in turn feeds live, real-time risk registers. Before any reports are generated, organizations need a central hub for the continuous monitoring and analysis of all organizational events likely to influence their risk status.

If like many others, your team is relying on Pen/Paper, Excel/Word, Form Builders or Legacy solutions to assess, manage and monitor risk, then it’s unlikely your current risk ratings are a true reflection of the reality – most Risk, Compliance or Quality leaders will attest to this. Worse, analytics and reports will fail to represent the bottom line, impeding the ability to recognize opportunities in a timely manner, negatively affecting your resiliency, growth, profitability and competitiveness in the marketplace. 

Management and the Board rely on accurate, high-level data sets in order to make key strategic decisions. They expect information to be evidenced, vetted and analyzed for them, which enables them to translate this data into strategy. Understanding how to report effectively and provide the right information, will not only deepen the board’s engagement but also increase the trust and respect for the GRC (Governance, Risk, and Compliance) function, rooting Risk Management as a value-adding activity.

Download the full guide, ‘Tackling Risk Reporting With AuditComply’, to learn more about how to assess & communicate risk status effectively, increasing the value of GRC programs in strategic decision-making.

Why Wait For Tomorrow?

Find out how AuditComply can guide & evolve your third-party risk management program today, request a demo here. 

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    Report By Risk, Assess By Audit 

    AuditComply is an Integrated Risk Management (IRM) platform, revolutionizing the way enterprises assess, track, action and report on risk, compliance and quality processes in real time. Defining the next generation of GRC, AuditComply empowers enterprises to mitigate risk, drive compliance and improve quality within the industry’s most innovative and user-friendly assessment platform.

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