Over the past several years we have seen new risk management trends plaguing organizations as well as some older trends resurfacing. Legal and financial risk are still prevalent in most organizations, in addition to regulatory and information security risk. In analyzing these risks, it’s apparent multiple areas of the business are impacted from an ownership standpoint, as well as some other form of direct correlation to their line of business. No matter who owns the risk, it is important to identify roles and responsibilities of potential parties that would need to be involved to prevent risk and react to exposure.
Two of the most critical parties in the risk management process, aside from the risk management team themselves, include procurement and internal audit,…
