News & Resources

Less than two-thirds of organizations have implemented effective risk management policies

Dec 19, 2011 Walt Wojoiechowski

Less than two-thirds of organizations have implemented effective risk management policies
In the wake of the 2008 financial collapse, and the ensuing plague of fiscal crises and credit crunches, organizations both large and small have begun adopting enhanced consumer credit risk management policies.
 A study released this week by AOTMP assessed how various industries are working to mitigate risk. It also addresses topics like infrastructure reliability, contract and budget liability and disaster recovery planning. But according to the report, only 58 percent of all organizations have fully incorporated a disaster recovery to address threats, such as wireless outages and compromised security. "This report shows that despite perceived technical and financial threats, enterprises vary widely in actions they take to mitigate these risks," said Timothy Colwell, senior vice president of global information management at AOTMP. "Risk mitigation adoption levels illustrate the current paradox between enterprise concerns expressed and the actions they take to alleviate those concerns." The Federal Reserve recently reported that U.S. consumer debt in October reached its highest level in two years, underscoring the need for companies to hedge against risk blow-back.