Board Risk Reporting in Disruptive Times

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現代の不透明な環境では、取締役会へのリスク報告が十分に対応できていない可能性があります。市場は常に変動し、予測困難な事態が常態化しており、企業戦略の寿命も短くなっています。また、プロセス、製品、サービスの革新によって、人々の生活や仕事、遊びが絶えず変化しており、ステークホルダーとの密接な連携が意思決定に欠かせません。さらに、不安定な地政学情勢や地域紛争、政策の変動や中央銀行の金融政策などにより、従来の前提が再評価を迫られています。こうした要因がリスクや機会に影響を与え、過去のデータだけでは未来を予測するのが難しくなってきているのです。

取締役は、より積極的な対話や実践的かつ実行可能な成果の追求、そして将来を見据えたデータと洞察を求めています。本資料では、取締役会へのリスク報告および関与の基礎となる、相互に関連する10の原則をご紹介します。

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(4) Address day-to-day risks on an outlier basis and when reporting on different areas of the business. Risks that are not critical enterprise risks represent a separate category of risks that should be communicated to the board as part of periodic status reports. However, unusual significant and unexpected matters related to these risks should be escalated timely.

(5) Define and communicate who is responsible for risk management. Directors want to know that someone owns the risks that matter.

(6) Require risk owners to engage directly with the board on relevant risks. When business and risk owners report to the board, they should also disclose the most important risks they face within the context of a common framework and language.

(7) Report on whether changes in the external environment are affecting critical strategic assumptions. Risk reporting should include insights from both external and internal sources as well as from geopolitical and scenario analyses to offer an “early warning” red flag capability.

(8) Provide insights on how management ensures an effective risk management process. Directors should have at least a high-level understanding of how management identifies, sources, measures, manages and monitors the company’s risks.

(9) Pay attention to directors’ preferences. Our discussions with directors indicate that many want plain language reporting, crisp presentations, more insights and less detail, and more engagement and dialogue, among other things.

(10) Continuously improve board risk reporting through an iterative process. Apply the above interrelated principles with the intention of asking the board to provide feedback. Continuous improvement is a two-way street.

The above interrelated principles are discussed in more depth in this issue of Board Perspectives. They are intended to provide sound direction for the board and management to improve board risk reports and conversations that are grounded in a strategic context. There is no one-size-fits-all approach to board risk reporting. But in the end, directors want an ongoing review of progress, a focus on practical and actionable takeaways, and timely forward-looking insights on what matters as markets evolve and unforeseen developments occur.