Judy Spain on Risk Assessment [Podcast]

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By Adam Turteltaub

Judy Spain is a professor of business law at Eastern Kentucky University, Compliance Collaborative Program Consultant with the Georgia Independent College Association, and, most importantly for this conversation, the author of the book Compliance Risk Assessments: An Introduction, which was just published by SCCE and available for sale on both the SCCE and HCCA websites.

In this podcast we review the changing importance of the concept of risk and risk management, which Judy argues, has moved from an insurance-based approach for mitigating damage after an event to a more proactive one designed to prevent the problem in the first place.

She also discusses:

  • The need to stop and think, rather than to react
  • The importance of making ethics a part of the compliance risk assessment
  • The value of including multiple voices in the risk assessment process
  • Knowing your goal before starting
  • The steps involved in getting the assessment done right (which are outlined in great detail in the book)
  • Understanding that not every risk has the same impact
  • The central role of prioritization
  • And much, much more

To learn more, listen in on the podcast and then enjoy a preview of Understanding Compliance Risks Assessments on Cosmos, our digital publishing platform.