C Suite Guidance

Taking the lead on risk

At the heart of effective governance is the Board’s responsibility to define acceptable risk levels aligned to strategic objectives and to uphold robust risk management and control systems, as emphasised in the 2024 UK Corporate Governance Code.

Boardroom accountability

Board oversight includes setting risk parameters, encouraging an organisation-wide risk mindset, ensuring controls are effective, monitoring risk management activities, and fulfilling reporting obligations. Successful risk governance requires seamless alignment between strategic (top-down) and operational (bottom-up) perspectives, supported by transparent structures and clear reporting lines.

• Corporate Governance Reviews: Conduct governance health checks to understand how risk management, internal controls, and assurance integrate into the overall governance framework.
• Boards and Risk Management: Assess Board-level risk oversight by reviewing risk policies, defining risk appetite, observing board engagement, evaluating risk reporting, and facilitating workshops and training tailored for directors. (see the example Risk Framework opposite).
• Assurance Mapping: Ensure risk priorities drive assurance activities. Identify coverage of highest risk areas, clarify who provides assurance to the Board, and evaluate the quality of assurance resources.

• Directors confident in their risk roles and responsibilities
• Enhanced ability to meet evolving regulatory and governance expectations
• Stronger board engagement with a risk-focused agenda
• A comprehensive, aligned, end-to-end risk governance process
• Access to cutting-edge governance and risk management insights at board level