At its most fundamental level, we at Blackhawk believe that risk management is a corporate culture issue. To manage risks effectively over time, employees must put the firm’s welfare and the preservation of important client relationships ahead of everything else. Risk is risk, and you can’t be perfect at managing it.
Consequently, we believe that the three absolutely indispensable ingredients of our success in managing risk are: Escalation, Accountability and Culture.
1. Escalation means communicating risk concerns to higher levels of management, getting more fingerprints on potential problem risks and challenging the notion that a business group leader ought to make independent decisions on risks that affect the entire firm.
For More: http://www.blackhawkpartners.com/managing-risk/
Thank You,