Michelle Banks, senior vice president and general counsel at retailer Gap, won the admiration of many of her compliance colleagues yesterday at Compliance Week 2007.
The trick that drew kudos from fellow panel members discussing how to implement enterprise risk management was the efficient distillation of risk, and the effective presentation of that risk to the board, by Gap’s ERM team.
“We had to force ourselves to reduce key risks from 300 down to 25,” Banks said—and then added to an incredulous audience: “all on five pages.”
One of her fellow panel members suggested that simply getting major risks on such a short ...