4 Steps Toward Evolving Your Risk Intelligence Program
By Mike Smola
Most professionals know that they need an intelligence program, but do not know where to start. My aim is to help make this process easier, as I helped stand up and evolve a risk intelligence program at one of the largest retailers in the world. Based on this experience, I have four steps to work toward evolving your risk intelligence program along with questions I recommend you ask yourself:
Decisions on Scope
- What is the scope of your program? Do expectations of scope align with your stakeholders?
- What comes first?
Identifying True Risk to Your Business
- What is the true risk to your environment that you are aiming to solve? Usually this has something to do with profitability which can include: stock price, sales, and/or profits.
- Why does your organization exist? What are the real risks? Typically, the risk is that individuals cannot or will not consume your goods or services.
- Are your hiring practices limiting your scope?
- Is technical prowess the most important attribute or is desire?
- Are you looking for talent in different places? Hire those who have applicable skills to the entire environment, by looking in different places.
- What if you had 1-2 vendors to solve all your problems?
- Is your vendor a true partner?
- Are you challenging vendors to adapt to your needs?