Lee Scargall is an experienced risk professional fighting for telco executives and board members to put more resources into enterprise risk management (ERM). But it does not help that telcos say they have great risk management in the annual reports they create for shareholders, encouraging widespread complacency. How can they believe that negligible expenditure on ERM delivers adequate mitigation of every major downside risk, whilst we repeatedly watch share prices crumble after weak controls and flawed systems lead to all sorts of scandals, hacks, fines, crimes and screw-ups? These were the topics Lee addressed at the Risk & Assurance Group (RAG) London Conference, when presenting the results of his survey into the risk management and governance practices of twelve UK telcos. Though the telcos fell short of Lee’s demanding standards he concluded with a positive message, discussing research that shows a positive correlation between ERM and share price. You can hear Lee’s talk on episode 29 of the Commsrisk podcast. And whilst you are listening, you can also follow Lee’s slides below.
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