Where is the A-Team?
October 3, 2008 Leave a comment
At many companies around the world right now, executive management is feverishly looking for ways to cut costs and eliminate headcount to bolster the bottom line. As I have heard many times before, many are probably asking themselves, “Do we really need an A-Team to handle our enterprise risk and compliance activities?” As a result, risk management and compliance are areas that are typically cut first. While that may be helpful to the bottom line in the short run, it typically comes back to haunt companies as we are seeing today in the many corporate failures related to poor risk management and compliance practices.
So, those same executives shoud be asking themselves, “Do we have the right talent to address our risk management and compliance activities?” Some key skills required for the “A-team” include:
- Solid understanding of the business
- Well informed on regulatory and compliance requirements
- Ability to see the big picture beyond just the rules
- Uncompromising integrity and courage
- Strong communications skills to articulate risk exposures as well as opportunities
- Capability to persuade and influence appropriate behavior in others