Risk Management is an important role, but one that requires sufficient authority and empowerment to drive the change management needed. Often, risk management is highly regarded across the organisation, but when it comes to actual implementation of recommendations made by Risk Dept, there is often resistance or ignorance. And at times, the Business Units are simply not willing to initiate a dialogue with Risk despite knowing that risk management is an important aspect. To overcome these challenges, the following are some of the changes that the Board/Senior Management can consider implementing in order to make risk a stronger function. 1. Board/Senior Management should enforce a strong policy/process regime wherein all good practices for better risk management are documented. Strong disciplinary action for non compliance of these policies must be laid out. It is observed that people tend to accept something documented as a policy, but the same aspect is not accepted when it is an outcome of some project by Risk department. 2. Risk dept should always have a independent reporting to the Risk Committee, Board or such independent Committee. This provides the empowerment to be un biased in their approach. 3. Risk Dept should always be adequately staffed so that they are able to meet the various needs of business units. Often, it is seen that when business units want assistance from risk to perform risk assessment, risk review of a new product or existing process, the risk dept is not able to allocate resources. This results in business unit losing faith in risk to provide value addition. There are many other forms of changes that can better empower risk unit. Please contact riskpro and we will be glad to assist.