In the previous article, we explored how to develop a risk culture strategy and roadmap to bridge the gap between your current state and your desired future state. Now, it's time to put that plan into action in “Stage 4: Execute and Embed”.

Our previous posts discussed the importance of defining your target risk culture and assessing your current state. These critical steps provide the foundation for “Stage 3: Developing a strategy and roadmap” to bridge the gap between current and future state.

As risk leaders, our job is to guide our organisations through uncertain times. A key part of this role is creating a strong risk culture that supports our business goals. This blog post, the first in our five-part series on risk culture, focuses on the crucial first step: defining your target state.

Risks in today’s business environment are not just about financial performance. Non-Financial Risks (NFRs) are critical factors - such as operational, reputational, regulatory, and Environmental, Social, and Governance (ESG) risks, all of which directly aect a company’s long-term value.