Have you ever wondered why you seldom achieved your planned/expected Target Risk Ratings by year-end?
Here's a quick self-check exercise to discover the key areas you might have to look into:
Sometimes, you do have the right controls & mitigations and they are effectively implemented, but your risk exposure has not been reduced because the controls & mitigations in place serve to prevent the risk from escalating further rather than to minimize the risk exposure. This happens when the risk is somewhat inherent in nature.
Now that you have gone through the four possible areas to assess why you might not have achieved your Target Risk Ratings, can you relate to any of these gaps in your current enterprise risk management?
Share your thoughts and key takeaways with me in the comment.