Zurich, 13. August 2009. Top Risk Managers in every workplace talk about building the most effective Risk Team, but few understand how to create the experience of team work or how to develop an effective and efficient Risk Team. Belonging to a Risk Team, in the broadest sense, is a result of feeling part of something larger than yourself. It has a lot to do with your understanding of the mission or objectives of your organization. Successful risk team building, that creates effective, focused work teams, requires attention to each of the following.

• Clear Expectations: Has executive leadership clearly communicated its expectations for the team’s performance and expected outcomes? Do team members understand why the team was created and which risks and opportunities must be recognized? Is the senior management supporting well enough the Risk Team? Does the work of the team have sufficient profile in the company?
• Context: Do the members of the Risk Team understand why they are participating on the team? Does the team understand where its work fits in the total context of the organization’s goals, principles, vision and values?
• Commitment: Do team members feel the team mission is important for the company? Do team members perceive their service as valuable to the organization and to their own careers? Do team members expect their skills to grow and develop on the team? Are team members excited and challenged by the opportunity of working in team?
• Competence: Does the team feel that it has the appropriate people participating in forecasting the approapriate risks? Does the Risk Team feel that its members have the knowledge, skill and capability to address the issues for which the Risk Team was formed (most likely the widespread risks of an enterprise risk management framework)?

Spend time and attention on each of these five tips to ensure your risk team contribute most effectively to your business sustainability. Taking appropriate consideration of these aspects will improve the resilience of your enterprise risk management framework.