Are risk registers the most important tool a Board can have?

In recent years, organisations have seen a rapid increase in the number of cyber security and climate-related risks threatening business. And we’ve noticed risk management climbing up Boards’ agendas. Does this mean that there’s now an increasing need to report on these types of risk? And are risk registers one of the most important tools a Board can have? We think so.  

Claire Taylor, Account Manager & Governance Associate at Round Governance Services says, “I’ve seen Boards firefight and try to work out why they didn’t see problems coming – and it’s because they haven’t proactively identified and monitored risk.  

I think people can be put off or underestimate the usefulness of a risk register because they’re often used in silo or as an afterthought. However, if they’re directly linked to Board agendas and used to guide discussion, they’re extremely practical.” 

Having advised on numerous risk registers, we know it’s a time-consuming process. This is why we want to give CoSecs and HR professionals access to the necessary information you need when considering yours.  

Claire’s highlighted the key points you need to consider and we’ve pulled them into a handy infographic. Go ahead and print it out so you can easily refer to it later. 

Head to Round Resources and subscribe to access our free content.  

Alternatively, if you’ve signed up already, you can access the Risking It infographic directly.  

Would you like an expert pair of hands to advise your Board on how they manage risk? We create tailored processes for our clients to help them manage threats to their business. Get in touch for more information.