Other case studies for organisations in other sectors would enhance this document.

This was a CIMA Research summary written in 2011 by London school of Economics and Political Science. The report aims at larger companies focusing on the correlation of Risk and Performance and the control of Management processes. AS shown in a case study of an org with 1000 employees, Different periodicity of risk and performance reporting may limit their integration but the presence of a clear cut strategy. Performance reports contribute to awareness and KPI’s can help measure risk.

• -Relationship of Risk and Performance based around organisation elements broken into 3 clusters; Barriers that hamper integrating the 2, different ways of interpreting the 2, different time horizons of the 2
• -Facilitators to overcome the barriers being strategy, risk champions (senior Mgt keeping a risk register) and
• -Levers being performance Management tools, e.g. KPIs, Variance Analysis

Working for an Owner Managed SME much of the theory is irrelevant, mainly because nearly all employees are aware of the activities in the organisation. There are less processes / objectives to be co-ordinated and in fact the owner has a huge influence of everything. However, key parts to the theory are used for specific project especially related to Product Development.

Interesting to know that risk and performance management can differ in timeline, while risk is associate with longtime , performance management can be shorterm. It important to note that both synchroize for optimum results.

I identified management reporting and risk response & reporting as development areas. My current role is in operational risk; however, I have limited exposure at the moment to management reporting.

I therefore read this report to delve into some of the issues related to the balance between managing company performance and managing risk. It has certainly give me an appreciation of some of the conflicts between performance and risk and also some approaches for how to manage them in tandem. For example, ensuring that risk and performance measures are both aligned to the overall company strategy. 

The report has also reinforced the usefulness of KPIs and KRIs and I will seek opportunities to make greater use of these in my current role. My operational risk team currently has a limited suite of KRIs; I will look to expand these and ensure that they are aligned to my business' strategy. 

In order to continue my development, in 2016 I will seek more work based opportunities to develop my management reporting skills and risk reporting skills. For example, through involvement in operational risk committee reporting. I will takeover reporting and look to enhance it where possible; I have no doubt that this will prove to be invaluable experience.