If you only consider “risks” to be those of the financial type, you are only confronting the most easily identifiable of threats—and you’re missing many more risks that should be addressed, according to a panel of risk-management experts at Compliance Week 2007.
“Our risk management process would be lacking if it were just financial,” said Sal Mancuso, director of compliance and integrity at Philip Morris USA. Likewise, Lynn Fountain, vice president risk assessment and audit at Aquila, said her company first had 50 top risks that were mostly financial. “Then you realize there is just more there,” she said.
