Design of the Risk Function

Key objectives: The scope of the working party in 2013 came under the following broad areas:

• How does a Risk function define its role?
• How large does a Risk function need to be?
• Optimal skills mix for a Risk function
• Accountability of a Risk function?
• Success and effectiveness of a Risk function?  and
• Reward and remuneration

As there had been work in this area by the 'IRM', then it was decided to re-think the direction of the working party.  Unfortunately, due to work pressures, momentum could not continue as hoped and so the Risk Management Research & Thought Leadership committee disbanded the working party.