Masterclass – Integrating Internal Control Self Assessment (ICSA) and risk management integration approach
Every manager is supposed to be the risk manager of his/her own process, but getting operational management involved in the risk management process is a challenge in most organisations. Sometimes the methodology and incentives to progress towards an effective integration of the risk management and internal processes are simply missing. ICSA can help in developing such management involvement.
This masterclass is an opportunity for Risk Managers to come closer to the operations of their organization and to adopt a “process” approach for their risk management techniques. Going down to the operational aspects of the risk mitigation actions, in partnership with the operational management, is a way to achieve this integration.
The business case illustrates the implementation of the self-assessment approach in a personnel and payroll services company. Self-assessment initiatives were managed at a very decentralized level, making the exercise even more interesting by demonstrating the role of operational management in the internal control process.