http://www.openpages.com/blog/index.php/talking-at-cross-purposes-about-risk Insights on the latest risk and compliance news and issues Tue, 15 Jun 2010 16:02:15 -0400 http://wordpress.org/?v=2.8.4 hourly 1 http://www.openpages.com/blog/index.php/talking-at-cross-purposes-about-risk/comment-page-1#comment-1042 Martin Coyne Tue, 02 Feb 2010 13:24:03 +0000 http://www.openpages.com/blog/?p=690#comment-1042 Mr. Steinberg is very accurate in his assessment of the the terminology issues around risk management. I recently worked on this issue with my board and management team and quickly discovered that each director and senior management team member had their own definition of risk and how it was currently being managed. There is considerable merit in taking the time to reach a consensus definition of risk before a true risk assessment can be undertaken. This is an important issue for every board of directors and avoiding these discussions will not alleviate the problem. Mr. Steinberg is very accurate in his assessment of the the terminology issues around risk management. I recently worked on this issue with my board and management team and quickly discovered that each director and senior management team member had their own definition of risk and how it was currently being managed. There is considerable merit in taking the time to reach a consensus definition of risk before a true risk assessment can be undertaken. This is an important issue for every board of directors and avoiding these discussions will not alleviate the problem.

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