List and describe the key areas of concern for risk management

Every organization is different. However, there are some departmental risks that are relevant no matter the industry or organization. We’ve identified the top risks for the most common departments in organizations that you should know about.

At the end of every section, we’ve linked to the full article where you can learn more about the individual risks for each department and how to mitigate those risks. If you want to learn how risk management software can help you remove departmental silos and effectively report on risk data, take our free guided tour now.

Customer Service

Understanding the challenges that customer service teams face gives management insight into areas of opportunity and growth. How many of these risks are you prepared for?

1. Disgruntled Customers
2. Inadequate Information Systems
3. Training
4. Warranty

Read the full blog.

Finance

While risk is uncertain by nature, all finance teams should at least prepare themselves for difficulties that other companies have commonly faced in the past. Is your finance department prepared to address these 5 risks?

1. Bankruptcy
2. Equity Market Downturn
3. Schedule and Resource Contingency
4. Project Overspend
5. Financial Reconciliation

Read the full blog.

Health, Safety & Environment

Strict regulations and occupational hazards are only a few of the top risks that health and safety teams need to consider. We’ve identified 5 risks that HSE teams should be concerned about:

1. Laws and Regulations
2. Occupational Hazards
3. Natural Disasters and Force Majeure
4. Employee Health and Wellness
5. Environmental Impact

Read the full blog.

Human Resources

Having a great HR team that operates on up-to-date principles in the field is critical to business success. Is your human resources team prepared to address these 4 risks?

1. Technology Competency
2. Ineffective onboarding strategies
3. Data Regulation and recordkeeping
4. Employee training

Read the full blog.

Information Technology

When companies make their lists of priorities, where do they put risk management for IT teams? IT departments should consider these 3 risks:

1. Improper Use of Data
2. IoT Vulnerability
3. System Failures

Read the full blog.

Legal

In an increasingly regulatory environment that is enhanced by citizen watchdog agencies with large social media followings, legal teams face a challenging task in making sure their companies control legal risks and stay protected from a lawsuit. To do that, enterprises need to ensure that they are accurately capturing, monitoring, and controlling legal risks such as:

1. Fraud
2. Lack of adequate energy management strategies
3. New and changing regulations
4. Loss of intellectual property

Read the full blog.

Marketing

The marketing arm of a business doesn’t just handle sales. It deals with client communication, business to business communication, rapport building, branding, and advertising. The 5 risks that marketing departments need to be aware of are:

1. Brand Perception and Value
2. Affiliations
3. Event Branding
4. Advertising
5. Inadequate Marketing Strategy

Read the full blog.

Operations

Like other departments within a corporation, operations teams face mounting risks and challenges to doing their jobs effectively and efficiently. We’ve identified four risks that should be top priorities for operations teams.

1. Measurement
2. Processing change readiness
3. Operational excellence
4. Lack of segregation of duties

Read the full blog.

Sales

Sales teams face ongoing threats and obstacles that may contribute to sales failures. Learn about the top risks that impact sales teams.

1. Inadequate Sales Strategy
2. Profit and Sales Metrics
3. Sales and Marketing Alignment
4. Sales Underperformance
5. Inadequate Product Knowledge

Read the full blog.

Security

We take a closer look at the top 4 risks for security teams and how they can prepare for and mitigate them in case of an event:

1. Sabotage and vandalism
2. Kidnapping, ransom and extortion
3. Protests and direct action
4. Terrorist incidents

Read the full blog.

Using Software to Protect your Organization

Resolver’s risk management software helps risk managers and owners easily manage their risk environment by adding, updating and describing risks that could impact the organization’s goals.

Ready to see where Resolver's Risk Management Software can take your business? I Want a Demo

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