76. Unlocking the value of Risk Governance and the DCRO Qualified Risk Director Program
Release Date: 12/16/2024
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info_outlineIn this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Lucie Claire Vincent, a global leader in consumer products and an independent board director, to discuss the vital role of risk governance in board effectiveness.
Lucie Claire shares insights from her distinguished career at Fortune 100 companies, her experience as an independent director, and her work with the Directors and Chief Risk Officers Institute (DCRO).
Lucie Claire also delves into the importance of earning the Qualified Risk Director (QRD) designation and the impact it has on boardroom discussions and decision-making. With her rich international experience and expertise in risk governance, she offers actionable insights for board members and aspiring directors on navigating the complexities of modern board oversight.
Key Takeaways
- The Importance of Risk Governance in the Boardroom:
- Lucie Claire emphasizes the board’s role in overseeing risk, particularly in a fast-changing environment where issues like AI, cybersecurity, and enterprise risk management dominate the agenda.
- Positive risk governance can shift perspectives from mere risk avoidance to value creation.
- DCRO’s Educational Programs:
- DCRO’s Certificates in Risk Governance and Cyber Risk Governance provide comprehensive, globally recognized training for directors and executives.
- These programs combine in-depth content, business case analysis, and cohort-based learning to enhance participants' ability to manage and oversee risk effectively.
- Earning the Qualified Risk Director (QRD) Designation:
- Achieving the QRD requires a rigorous self-assessment, relevant professional experience, and references, positioning individuals as experts in risk governance.
- Lucie Claire describes the designation as akin to being a “qualified financial expert” for risk, making QRD holders valuable assets to boards.
- Bringing Value to the Boardroom:
- Lucie Claire’s certification has enhanced her ability to guide discussions on innovation, stakeholder engagement, and strategic planning with a risk-positive mindset.
- Her contributions have been particularly relevant in her role with technology and B2B organizations.
- Who Should Pursue Risk Governance Credentials?
- Current and aspiring board members, as well as senior executives, can benefit from these programs to build resilience, value, and trust within their organizations.
- Networking and Continued Learning:
- DCRO fosters a global community of risk professionals through events, newsletters, and case studies, providing ongoing learning opportunities for its members.
Quotes
"The concept of positive governance in risk-taking changes how you see risk. It’s about value creation and having a more strategic, long-term view of the business."
"The diversity of industries, thought, and verticals in my DCRO cohort enriched the conversations. It’s fascinating to see how risks are addressed differently across sectors."
"Most boards still place the risk component within the audit committee, but as risk becomes more complex, there’s a growing need for separate risk committees."
Guest Bio
Lucie Claire Vincent is an accomplished leader in global consumer products, having held senior roles at Colgate Palmolive and Philip Morris International. She serves on the board of Toluna, advises startups in consumer technology, and is an adjunct professor at NYU’s School of Professional Studies. A lifelong learner, Lucie Claire holds multiple governance certifications, including a Qualified Risk Director designation from the DCRO Institute.
Resources and links
- DCRO Institute: www.dcroi.org
- Women Execs on Boards: https://weob.org