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Creating A Risk Intelligent Infrastructure Getting Risk Intelligence Done

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Executive Summary

This paper, based on a Deloitte Dbriefs presentation titled "Creating a Risk Intelligent Infrastructure," gives our most current thinking on building effective risk management practices into the fabric of your organization. This paper presents information and polling data from Deloitte's Dbriefs for Financial Executives webcast series, creating a Risk Intelligent Infrastructure: Enhancing Enterprise-Wide Risk Management Characteristics held on December 17, 2009, with Deloitte & Touche LLP Partner Sandy Pundmann and Deloitte Consulting LLP Principal Michael Fuchs presenting. Total webcast attendance: approximately 1,750 participants, including CFOs, directors, finance managers, analysts, auditors, and other financial executives. Polling results presented herein are solely the thoughts and opinions of the webcast participants' and are not necessarily representative of the total population of all financial executives. However, the results do provide valuable insight regarding the opinions and concerns of financial executives in general as the results are consistent with the experiences of Deloitte practitioners who have worked on related engagements with numerous companies. A Risk Intelligent Enterprise views calculated risk-taking as essential to value creation, since virtually any activity that seeks to increase value also carries some degree of risk. Understanding that risk is integral to the pursuit of value, a Risk Intelligent Enterprise does not strive to eliminate risk or even always to minimize it - a perspective that represents a critical change from the traditional view of risk as something to avoid. Rather, a Risk Intelligent Enterprise seeks to manage risk exposures across all parts of the organization so that, at any given time, it incurs just enough of the right kinds of risk - no more, no less - to effectively pursue its strategic goals.

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