Board Risk Committees Have Arrived

The Board Risk Committee (BRC) is a thought leadership peer forum dedicated to Board Risk Committee members and Chief Risk Officers (CROs). The BRC is a trusted place for the exchange of ideas, best practices, and topics of interest. The purpose is to keep Directors and CROs current and informed, so that they can more effectively fulfill the responsibilities entrusted to them. Central to this exchange are discussions of current and emerging risks facilitated by horizon scanning that provides a real-time and forward-thinking perspective. Experience shows that correctly structured and staffed Board Risk Committees are an effective way to mitigate risk exposure.

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Webinar: Cybersecurity and Third Party Risk

The Ecosystem of Enterprise Risk

Focused effort is required for risk management practices to mature at a rate that keeps pace with the exponential growth of operational risks. Boards must adhere to a standard of appropriate structure, expertise, and time needed to understand and discuss important operational risks, including those related to technology, cybersecurity, pandemics, environment, and geopolitics. In addition to its staff, BRC has a stable of Subject Matter Experts (SMEs) and can draw on their expertise – many of whom are Chief Information Officers, Chief Information Security Officers, Chief Privacy Officers, CROs, and Chief Executive Officers – all with deep understanding across the spectrum of risk categories, including but not limited to:

Cybersecurity Risk

Risk of financial loss, operational disruption, or damage, from the failure of the digital technologies employed for informational and/or operational functions introduced to a manufacturing system via electronic means from the unauthorized access, use, disclosure, disruption, modification, or destruction of the manufacturing system.¹

Business Resilience Risk

The ability to prepare for and adapt to changing conditions and withstand and recover rapidly from disruptions. Resilience includes the ability to withstand and recover from deliberate attacks, accidents, or naturally occurring threats or incidents.¹

Third Party Risk

Potential threats stemming from the use of vendors, affiliates and other external parties that support an outsourcer’s organization or by the outsourcing process itself. ²

Supply Chain Risk

Potential consequences that may arise from the loss of a component within a supply chain which is a linked set of resources and processes between multiple tiers of developers that begins with the sourcing of products and services and extends through the design, development, manufacturing, processing, handling, and delivery of products and services to the acquirer.¹

Privacy Risk

The risks and ramifications of collecting, maintaining, and disseminating information in identifiable form in an electronic information system, and for identifying and evaluating protections and alternative processes to mitigate the impact to privacy of collecting information in identifiable form.

Geopolitical Risk

The risk associated with wars, terrorist acts, and tensions between states that affect the normal and peaceful course of international relations.

Source: 1. NIST 2. SharedAssessments

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Created Specifically for Risk Committee Members and CROs by Established Industry Leaders

The founding members of BRC have an established track record in creating and managing peer industry groups. BRC has been created from the ground up based on their collective knowledge and experience in risk committee formation and best practices.

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