Member case study

New in role: getting buy-in for a risk transformation programme
ASX food and beverage company

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I've recently joined a new company and their risk maturity is much lower than in my previous role. How do I validate my assessment of their risk maturity and get internal buy-in for my (much-needed) risk transformation programme?
Risk Leadership Network member

Head of ERM, ASX food and beverage company

What we did

1. Conducted our ERM maturity self-assessment with sector benchmark

This helped the member get a sense of where their new organisation sat compared to peers, and helped validate the initial areas of focus they'd highlighted to the board.

 

What we did

2. Provided mentors with relevant experience

We provided the member with mentors — practising risk leaders at large organisations, who had recently introduced a new risk framework soon after joining the company They provided 1-to-1 support through regular calls and emails to help the member:

  • Get new ideas.
  • Identify weaknesses in their plans.
  • Validate their approach before implementation.
What we did

3. Enabled the senior risk team to upskill and access practical peer insights

The whole senior risk team got access to the network, which meant they could upskill and leverage peer approaches. This included access to:

  • Bespoke benchmarks - giving insight of what other companies are doing on risk appetite, risk reporting, culture, assurance and more.
  • Virtual meetings - allowing them to hear approaches and lessons learned from the forward-thinking risk leaders in our network.
  • Tools and templates - real, peer-shared materials to support implementation and continuous improvement. 
The result

How this helped

1

They saved a lot of time

By discussing their risk transformation plans with peers before implementation, they avoided mistakes.

2

Validation for the initial assessment of the company's maturity

By using our maturity model, they got buy-in for their risk transformation programme.

3

Engaged the senior risk team

With their own access to Risk Leadership Network they're regularly collaborating with senior risk practitioners who are striving to improve ERM in their organisations.