The Risk Paradox

Risk management is too often perceived to be a perfunctory activity assigned to the lower echelons of the firm. As described by Douglas W Hubbard (2009, p. 174):

The paradox of risk management... is that the most sophisticated risk analysis methods used in an organization are often applied to low-level operational risks, whereas the biggest risks use softer methods or none at all.

How do we elevate the stature of risk management (and analysis in general) in the executive suite?

Reference: Hubbard, D W (2009), The Failure of Risk Management: Why It's Broken and How to Fix It, Hoboken, NJ: John Wiley.