“Ensure you can see where you are putting your feet before walking”: Governance and Compliance

Keynote address to OpRisk Europe Conference, 21 March, London:

  • All risk is subjective. “Risk” is a word that refers to the future, and that exists only in the imagination.
  • Risk management involves speculating about this future, about things that could go wrong, and about ways of preventing them.
  • In recent years, in the public sector and throughout the worlds of commerce and industry there has been an explosion in the numbers of risk assessments undertaken and a remarkable increase in the thoroughness and comprehensiveness that they attempt.

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