In essence, risk culture is a subset of the organizational culture—it’s combined set of values, norms, attitudes and behaviors of an organization’s members related to their risk perception and risk taking. Risk culture is an emerging area and vital component of enterprise risk management. The benefits of ERM will not be fully realized in an organization unless a risk culture is actively cultivated in their employees. Reshaping the risk culture, however, is the most difficult to change and putting procedures and awareness in place is not enough.

At Devon, we act to address the gaps in risk culture to underpin organizational resilience. Our solutions focus on leadership, frontlines alignment, transparent communications, integration to operations, easy access to the relevant information that will help build and sustain a strong risk culture. A weak risk culture is a risk itself.