Oliver Poss the director and founder of RISIKO - Risk Consulting - came to Sydney, Australia from Germany in 2003.
The German word for risk is 'risiko'.
While Germans are not necessarily famous for their achievements in areas such as cricket or comedy, they are said to have a good track record in developing processes and applying these processes.
This is what RISIKO is about.
RISIKO assists its clients in providing a helpful, high quality risk management process to their business. This enables their line management to make informed decisions based on risk and to meet their risk management obligations.
Underlying RISIKO’s approach is the understanding that typically line management owns risk within their areas of responsibility.
RISIKO also understands that when line managers perceive risk management as a burden on top of their workload that does not provide useful return, they are unlikely to join their organisation’s risk management process in a productive way.
As a result, a poorly executed risk management process produces low quality risk reporting. In turn, the readers of low quality risk reporting ask themselves why they should read these reports. Together, the outcome is a downward spiral that will very likely prevent an organisation from operating an effective risk management framework.
That is why RISIKO starts with the premise that a good risk management process should avoid disenfranchising the business through undue use of risk jargon and complexity. By contrast, it should be supportive to the business and easily applied by the business. After all, the most important component of risk management is people.