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你的董事會(huì)做好撲滅下一場(chǎng)火的準(zhǔn)備了嗎?

你的董事會(huì)做好撲滅下一場(chǎng)火的準(zhǔn)備了嗎?

Faye Wattleton 2011年11月25日
大多數(shù)董事不怎么關(guān)注風(fēng)險(xiǎn)。企業(yè)可不該冒這個(gè)險(xiǎn)

????災(zāi)難性地震襲擊日本,嚴(yán)重?fù)p害供應(yīng)鏈,這種事發(fā)生的幾率有多大?火山灰云讓北歐大部分地區(qū)變成禁飛區(qū),擾亂航空交通,破壞經(jīng)濟(jì)活動(dòng),這其中的可能性有多少?某個(gè)大型金融機(jī)構(gòu)在21世紀(jì)第一個(gè)十年里破產(chǎn),把全球的金融體系都推向崩潰的邊緣,這又有多大的可能性?

????目前為止,人們還認(rèn)為這類事情太遙遠(yuǎn)了,因此并未引起企業(yè)董事的高度重視。就算有,也只有極少董事會(huì)把這類風(fēng)險(xiǎn)的超前評(píng)估納入自己的基本職責(zé)。但是,一系列類似事件發(fā)生之后,很明顯,管理職能的定義已經(jīng)擴(kuò)大,風(fēng)險(xiǎn)意識(shí)已成為董事會(huì)的本分。董事們不能繼續(xù)被動(dòng)地參與,風(fēng)險(xiǎn)評(píng)估的流程必須由董事會(huì)首先帶動(dòng)起來。

????在銀行業(yè),監(jiān)管層正在推動(dòng)這種轉(zhuǎn)變。英國的銀行監(jiān)管機(jī)構(gòu)最近出臺(tái)了一項(xiàng)新的“反向壓力測(cè)試”,要求銀行識(shí)別潛在的災(zāi)難性事件,比如禽流感、糧食供應(yīng)中斷或政變等,同時(shí)制定抵御危機(jī)的方案。雖然反對(duì)者抨擊此舉是政府的鐵腕政策,但擁護(hù)者以最近在危機(jī)中準(zhǔn)備不足的銀行為例,強(qiáng)調(diào)銀行業(yè)需要更系統(tǒng)的思維和審慎的規(guī)劃。

????在美國,《多得-弗蘭克法案》(Dodd-Frank legislation)賦予股東更多權(quán)力,讓其成為企業(yè)所有者,從根本上轉(zhuǎn)變了股東與上市公司董事會(huì)的關(guān)系,并迫使董事更加透明。在社交媒體的新世界里,董事會(huì)的行為會(huì)像病毒般迅速傳播。由此帶來的透明度的提高能否帶來更好的風(fēng)險(xiǎn)管理呢?

????最近的調(diào)查得出的結(jié)論并不一致。一項(xiàng)調(diào)查顯示,68%的董事自認(rèn)為有能力監(jiān)管風(fēng)險(xiǎn)管理計(jì)劃,減輕企業(yè)面臨的風(fēng)險(xiǎn)。但是,另一份報(bào)告指出,近三分之二的受訪董事表示,他們不監(jiān)管風(fēng)險(xiǎn)管理流程,或者只進(jìn)行臨時(shí)監(jiān)管。

????一般的董事會(huì)將風(fēng)險(xiǎn)定義為戰(zhàn)略、經(jīng)營、財(cái)務(wù)層面的問題,以及是否合規(guī)。而風(fēng)險(xiǎn)的定義需要擴(kuò)大到包括無形資產(chǎn),如企業(yè)聲譽(yù);或不可預(yù)知的弱點(diǎn),如企業(yè)業(yè)務(wù)上面臨的問題。盡管董事會(huì)無法預(yù)知每一個(gè)事件,但是僅僅按照在過去事件基礎(chǔ)上制定的既定路線,或者認(rèn)為照章行事就是完成工作,顯然是不夠的。

????在風(fēng)險(xiǎn)評(píng)估的問題上,沒有一個(gè)放之四海而皆準(zhǔn)的解決辦法。誠然,這個(gè)過程可能很耗時(shí),令人沮喪,因?yàn)轱L(fēng)險(xiǎn)評(píng)估既需要直覺又需要數(shù)據(jù)分析。一些董事會(huì)選擇將這一問題交給某個(gè)風(fēng)險(xiǎn)委員會(huì)來處理。但是要想獲得有效的風(fēng)險(xiǎn)管理,整個(gè)董事會(huì)都需要全程掌握主動(dòng)權(quán)。

????本文作者法耶?沃托頓系奧邁咨詢公司(Alvarez &Marsal)的常務(wù)董事兼某企業(yè)董事。

????What are the chances that a catastrophic earthquake could strike Japan and severely cripple supply chains? Or that a volcanic-ash cloud could turn much of Northern Europe into a no-fly zone, disrupting air travel and impairing economic activity? Or that a major financial institution could fail in the first decade of the 21st century, pushing the entire global financial system to the brink?

????Until recently, such scenarios would have been considered too far-fetched to warrant much attention from corporate directors. And few, if any, directors would have considered the proactive assessment of such risks to be among their fundamental responsibilities. In the wake of these and other events, however, it has become clear that the definition of governance has broadened and that awareness of risk has become a fiduciary obligation. Directors can no longer be passive participants; the process must start with and be spurred on by the board.

????In the banking sector, regulation is driving this shift. Britain's bank regulators recently rolled out a new "reverse stress test" that requires banks to identify potentially catastrophic events and develop plans to withstand crises such as flu pandemics, disrupted food supplies, or political coups. Though opponents slam the exercise as the heavy hand of government, advocates stress the need for more systemic thinking and prudent planning -- pointing to how ill-prepared banks were for the recent crisis.

????In the U.S. the Dodd-Frank legislation has given shareholders more power to act as corporate owners, fundamentally shifting their relationship with boards of publicly traded companies and forcing directors to be more transparent. In the new world of social media, board actions instantly go viral. Will this increased transparency lead to better risk management?

????Recent surveys offer diverging insights. One indicated that 68% of directors feel confident in their ability to monitor a risk-management plan that would mitigate corporate exposure. However, another report revealed that nearly two-thirds of surveyed directors indicated they either did not monitor the risk-management process or did so only ad hoc.

????Typically boards have defined risks as strategic, operational, financial, and compliance. That universe needs to be widened to include intangible assets, such as a company's reputation, or unpredictable vulnerabilities, such as issues facing enterprises with which the company does business. While boards cannot predict every event, it is no longer sufficient to follow a prescribed road map based on past events or assume the job has been done by checking the boxes.

????When it comes to risk assessment, there is no one-size-fits-all solution. Admittedly, the process can be time-consuming and frustrating, for it is as much an instinct as it is data-driven. Some boards opt to hand it over to a risk committee. But for risk management to be effective, the entire board needs to own the process.

????--Faye Wattleton is a managing director at Alvarez & Marsal and a corporate board director.

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