If you have participated in a meeting between members of the c-suite and risk management, you almost certainly have observed two groups struggling to converse with each other.
Successful risk management teams bridge these communication gaps by appropriately staging meetings before they begin. CEOs, CFOs and COOs oversee multiple disciplines, each with its own lexicon. Even something as simple as a light-hearted comment to start—“Okay, everyone, time to put on your insurance hat”—can put senior management in the right mindset.
Common terms can also be a source of confusion and challenge effective communication. Here some examples of how risk management and the C-Suite may interpret the same term differently:
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