5 Ways to Minimize Risk Exposure

To more efficiently manage risk, let's go back to basics and take a look at five simple (and often overlooked) ways to minimize risk exposure:

1. Stop looking for a silver bullet. Changes to an existing process or the implementation of a simple procedure are often all that is required to reduce risk to an acceptable level.

2. Don’t forget risk acceptance.

3. Use risk to enable business development

4. Consider risk transference. Risk can be transferred to a third party through a legal agreement or an insurance policy.

5. Improve existing controls before deploying new ones.