11e. ALL – Identifying Critical Risks and Assessing Your Risk Matrix (Intermediate)
The process of mitigating risk begins with identifying the risks within your firm and is a necessary element in developing and maintaining a strong compliance program. In this session, attendees will hear about the practical aspects of creating a meaningful and usable risk assessment and the benefits that such an assessment can provide to their compliance program.
- Understand the importance of identifying all critical risks to your firm, including the not so obvious risks, and periodically reassessing your firm’s risks and risk tolerance
- Implement a risk scale to assist with identifying and prioritizing the most severe risks that your firm faces
- Identify ways to use your matrix to increase visibility of risks, assist management decision and allocate your firm’s resources
- Discuss best practices in communicating with management and regulators about your risk matrix