Conscious Governance Moments

Setting clear boundaries: Our Risk Appetite Statement defines our limits.  A risk appetite statement clearly communicates to staff and board what risks the company is willing to take and what is off limits. It helps focus attention on important areas like staff and client safety and potential opportunities for expansion. For more go to: www.consciousgovernancetv.com https://ww

Shifting the focus: How to move beyond the numbers and into strategic finance conversations. Finance is not just about figures, it's about understanding the reasons for variance and strategic implications for the company. A Finance, Audit & Risk committee should focus on these conversations rather than the figures themselves, and provide strategic implications for board discuss

Rethinking risk: How to turn threats into opportunities. Risk is often seen as negative, but it should be viewed as an ongoing conversation to understand how it can be turned to our advantage to achieve strategic goals. Risk management standards define it as anything that impacts our ability to achieve goals, making it inherently strategic. For more go to: www.consciousgovernancetv

Unlocking strategic advantage: The role of board-level risk management. Risk management must start at the board level and involve a mindset of innovation to extract strategic advantage. Senior executives must focus on major, endemic risks and work to control and mitigate them. Staff will follow suit with the right mindset in place. For more go to: www.consciousgovernancetv.com http

Don't bore the board: Prioritizing key risks in your report. When providing risk reports to the board, focus on the top three to five key risks and avoid overwhelming them with unnecessary detail. Consider the board's role in making choices that shape the future and assess the culture of risk management within the board. Implement key performance indicators for the CEO that reflect

Shifting the focus: How to move beyond the numbers and into strategic finance conversations. Reframe risk management to focus on strategic opportunities, not just compliance. Add language to policy to shift perspective on risk. For more go to: www.consciousgovernancetv.com https://www.youtube.com/@consciousgovernancemedia

The role of a Risk Committee in driving strategic decision making. The Risk Committee helps identify and manage top risks while training the board to identify opportunities. Ensuring accountability & incorporating strategic implications in board reports helps create a strategic environment. For more go to: www.consciousgovernancetv.com https://www.youtube.com/@consciousgovernan

Don't get lost in the details: The importance of keeping your strategic planning simple. Strategic planning follows a sequence to identify key strategies that align with an organisation's vision, scenario planning and SWOT analysis in order to deliver on goals and effectively leverage strengths, weaknesses, opportunities and risks. It typically focuses on 3-4 key areas of work. For

Making a difference: The purpose of strategy. Strategy is about creating the future and making a difference, not just an exercise. It involves considering possible futures and continually working towards them with detours along the way. For more go to: www.consciousgovernancetv.com  https://www.youtube.com/@consciousgovernancemedia

Budget should follow strategy, not the other way around. Strategy should not be limited by budget, but rather the budget should be set based on the chosen strategy. It is important to consider alternative ways of funding and to not let resource constraints dictate the direction of the organization. For more go to: www.consciousgovernancetv.com https://www.youtube.com/@consciousgove