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Risk Oversight: Confidence Breeds Success Infographic

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http://spr.ly/SAP_GRC - Confidence comes from knowing your organization can anticipate and respond to risks that could disrupt or derail your core operations. But risk management isn’t simply a …

http://spr.ly/SAP_GRC - Confidence comes from knowing your organization can anticipate and respond to risks that could disrupt or derail your core operations. But risk management isn’t simply a process or a program – you need board-level risk oversight and a company-wide framework for risk-adjusted decision making.

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  • 1. Confidence comes from knowing your organization can anticipate and respond to risks that could disrupt or derail your core operations. But risk management isn’t simply a process or a program – you need board-level risk oversight and a company-wide framework for risk-adjusted decision making. The benefits are clear SAP’s enterprise risk management framework has enabled this mining company to shift from a “check-box” and compliance-related culture to real risk mitigation, from operational to board level.4 Success Story: Exxaro The need for action Over the next 18 months, more than half of companies will apply horizon scanning, early warning systems, scenario planning, and flexible risk appetite statements.3 Technology as an enabler 8 out of 10 companies plan to develop risk-related performance incentives, while 7 out of 10 plan to conduct talent audits to identify skills gaps.3 People as well as processes Next-gen risk analytics Companies are planning to implement integrated risk data warehouses (up 100%) and risk dashboards (up 50%) to identify hidden patterns and risk linkages in Big Data.3 27% of organizations still have no enterprise risk management (ERM) framework or policy. A fragmented approach Companies are more concerned with meeting compliance goals than embedding risk management into day-to-day operations.1 Missing the mark The risk picture today organizations within the financial services industry have a chief risk officer, but in one-third of companies, there is no board-level oversight over strategic risk.2 A lack of risk oversight Risk Oversight: Confidence Breeds Success Reduce loss and improve business value with the SAP® Risk Management application. Find out more at www.sap.com/grc. 1. SAPinsider. 2. Deloitte, Exploring Strategic Risk, October 2013; Deloitte, Global Risk Management Survey, Eighth Edition, 2013. 3. PwC, Risk in Review, April 2013. 4. Interview with Saret van Loggerenberg, Manager, Risk & Compliance, Exxaro, June 2012. © 2014 SAP AG or an SAP affiliate company. All rights reserved. Everyone can help “Risk-based decisions can be made at any time and at all levels of the company, delivering real value to the business.” Miriam Kraus, SVP of Governance, Risk, and Compliance, SAP AG Stay on target • Identify the risks you need to manage • Automate the risk management processes • Define thresholds and alerts • Streamline day-to-day risk management activities How to do it • Reprioritize risk management activities • Focus on the activities that drive business value • Gain insight into how risks create or erode value • Respond quickly to emerging risks and opportunities