Company Directors Rank Risk Management As Top-Level Concern
Boards of directors nationwide rank risk management as the primary concern for their companies, according to a recently released study compiled by accounting and consulting firm BDO USA. The study further indicates that despite the concern, more than half the surveyed companies do not have a chief risk officer, and an even larger majority has no risk committee in place.
The survey comes in the wake of the robo-signing scandal that exposed misconduct at multiple points throughout the foreclosure process and highlights how improper procedures can exist at multiple levels of any organization.
Notaries play a key role in their organization’s risk management efforts. They serve on the frontline to protect consumers against forgery, imposture and other misconduct, and to help ensure compliance. As organizations act on the risk management concerns of company directors, Notaries and those that supervise them can play a crucial role in a comprehensive corporate risk management plan.
Non-Members: This complete article — as well as additional in-depth coverage of issues related to Notaries working within the Financial and Corporate Services, Immigration, Legal Professional, Healthcare Professional, NSA or Small Business, or International industries — is available exclusively to NNA Section Members. Find out how to become a Section Member.