Business-Wide Risk Assessment: Insights, Expectations and Practical Execution
A lot of people understand the importance of good compliance and risk management. When nothing happens (no fines, no complaints, no emergencies), most people within a business rarely have insight into the compliance and risk team functions and to-do lists. Good risk prevention is often quiet. However, there is a hard lesson the industry keeps relearning: risk does not tend to move gradually. Roman Abramovich went from a decades-long low-touch client profile to an instant global sanctions case. Overnight, he demonstrated what many firms still underestimate, that client risk profiles can change without warning, and that only a genuinely dynamic business-wide risk assessment (BWRA) framework can catch the shift in time.