Prescribing for child and Adolescent

Full Answer Section

1. Are the risk controls operating as intended and consistently applied across the organization?
   • Follow-up: How do we monitor adherence to controls? Are there deviations, and if so, what are the causes? (e.g., training gaps, resource constraints, lack of buy-in).
2. Are the risk controls achieving their intended outcome of reducing risk probability or impact to an acceptable level?
   • Follow-up: What metrics do we use to measure the effectiveness of controls? Have we seen a reduction in adverse events related to these risks since controls were implemented or modified?
3. Are the risk controls cost-effective and proportionate to the level of risk they are mitigating?
   • Follow-up: Are we over-investing in controls for low-probability/low-impact risks? Are there more efficient ways to achieve the same level of control?
4. Are there any unintended negative consequences or new risks introduced by the implementation of these controls?
   • Follow-up: Have controls created excessive bureaucracy, employee frustration, or hindered innovation?
5. How frequently are the risk controls reviewed and updated based on changes in the internal or external environment?
   • Follow-up: What triggers a review? Is there a formal process for updating controls?
6. Are the individuals responsible for operating and monitoring controls adequately trained and resourced?
   • Follow-up: Do they have the necessary skills, knowledge, and tools?

Three Best Questions to Begin Evaluating Risk Effectiveness and Control:

1. "For our top X (e.g., 5) identified risks, what tangible evidence do we have that our current controls are actually reducing the likelihood or impact of these risks?"

   • Why: This question immediately forces a focus on results and measurable outcomes rather than just processes. It moves beyond "we have a policy" to "is the policy working?"

2. "How consistently are these critical controls being applied across all relevant departments, teams, or locations, and what are the observed variations?"

   • Why: This question addresses operational effectiveness and potential inconsistencies. Controls may be well-designed but poorly implemented, leading to exposure. It encourages looking at implementation quality.

3. "When was the last time we comprehensively reviewed each of our key risk controls, and what internal or external changes have occurred since then that might impact their ongoing effectiveness?"

   • Why: This question emphasizes the dynamic nature of risk and the need for continuous review. It prompts consideration of whether controls are becoming outdated or insufficient due to evolving circumstances.

Examples of a Risk Effectiveness Technique and a Risk Control Process

From my personal experience and insight:

Risk Effectiveness Technique: Post-Incident Root Cause Analysis (RCA) with a Quantitative Impact Assessment

• Description: This technique involves conducting a detailed, retrospective analysis of an actual adverse event (e.g., a data breach, a significant employee grievance, a safety incident). Beyond simply identifying the immediate cause, RCA digs deeper to uncover systemic issues, latent conditions, and failures in existing controls that allowed the event to occur. For effectiveness assessment, we would then quantify the actual impact of the incident (e.g., financial loss, reputational damage, lost productivity) and compare it against the expected impact if controls were fully effective.
• Example: In a previous role, after a significant cybersecurity incident (e.g., a phishing attack leading to compromised data), we conducted an RCA. This revealed that while an email filtering control was in place (the "risk control"), its effectiveness was hampered by a lack of ongoing, realistic employee training on phishing recognition (a gap in a supporting control) and inadequate real-time threat intelligence updates. We quantified the cost of the breach (e.g., regulatory fines, notification costs, remediation efforts) and compared it to the projected cost had the phishing training been 90% effective, clearly demonstrating the lack of effectiveness of the current control system.

Risk Control Process: Mandatory, Bi-Annual Compliance Training with Automated Tracking and Escalation

• Description: This is a proactive process designed to mitigate risks associated with non-compliance (e.g., regulatory fines, legal challenges, reputational damage). It involves implementing mandatory training modules for all employees on critical compliance areas (e.g., data privacy, anti-harassment, ethics, security protocols). The "control" aspect is the process itself: the training is delivered via a Learning Management System (LMS) with automated tracking of completion rates, quiz scores, and an escalation protocol for non-completion.
• Example: In a rapidly growing tech firm, the risk of data privacy breaches due to employee error was high. The risk control process involved a mandatory bi-annual data privacy training module. The LMS automatically tracked who completed the training and their scores. If an employee did not complete the training within a specified timeframe, automated reminders were sent. After three reminders, the system escalated to their direct manager and then to HR for intervention, potentially leading to consequences outlined in policy. This proactive, trackable process aimed to maintain a high level of employee awareness and adherence to privacy protocols, thus controlling the risk of privacy breaches caused by human error.

Why It Is Important to Involve HR and Other Groups in Risk Assessment

It is critical to involve HR and other diverse groups in risk assessment for a holistic and effective risk management strategy.

1. Comprehensive Risk Identification and Understanding:

   • HR's Role: HR possesses unique insights into people-related risks such as talent shortages, employee turnover, skills gaps, cultural issues, compliance with labor laws, employee relations, diversity and inclusion challenges, and workplace safety. These are often latent or systemic risks that other departments might overlook. HR can identify how human behavior, internal processes, and the employee lifecycle contribute to or mitigate risks across the organization. Without HR, these critical dimensions, which can have significant financial and reputational impacts, would likely be missed or underestimated.
   • Other Groups: Involving groups like Finance (financial risk, compliance), IT (cybersecurity, data integrity), Operations (supply chain, process failures), Legal (litigation, regulatory non-compliance), and Sales/Marketing (reputational, market risks) ensures that a wide spectrum of potential threats and opportunities is identified. Each department has a specialized view of the risks inherent to their operations, contributing to a more robust and complete risk register.

2. Enhanced Control Design, Implementation, and Buy-in:

   • HR's Role: Many risk controls, particularly those related to compliance, ethics, security, and operational efficiency, rely heavily on employee behavior, training, and policy adherence. HR's expertise in organizational development, change management, training, communication, and performance management is vital for designing controls that are not only theoretically sound but also practical, implementable, and sustainable. HR can help ensure controls are embedded into culture, communicated effectively, and supported by appropriate policies and training, leading to greater employee buy-in and adherence.
   • Other Groups: When groups are involved in identifying risks and designing controls for their own areas, they develop a stronger sense of ownership and accountability. This collaborative approach leads to more pragmatic and effective controls that align with

Sample Solution

When assessing the effectiveness of current organizational risk controls, HR personnel should ask questions that delve into both the design and operational efficiency of these controls, as well as their alignment with the organization's overall risk appetite and objectives.

Here are key questions:

1. Are the identified risks still relevant and comprehensive?
   • Follow-up: Have new risks emerged or old ones diminished since the last assessment? Are there any "blind spots" in our current risk register?
2. Are the risk controls clearly defined, documented, and communicated to relevant stakeholders?
   • Follow-up: Do employees understand their role in risk mitigation? Is there a central repository for risk control procedures?