Why is ongoing training important in promoting a risk-aware culture?

Ongoing training is crucial in promoting a risk-aware culture as it equips employees with the knowledge and skills necessary to identify, understand, and manage risks effectively. By continuously educating staff on risk management practices, organizations can help employees recognize potential threats and the importance of implementing controls to mitigate them. This understanding fosters a proactive approach to risk, where employees feel empowered to take ownership of their roles in safeguarding the organization.

Regular training sessions also help reinforce policies and procedures related to risk management, ensuring that all team members are up to date with the latest practices and guidelines. This continuous improvement cycle contributes to a workplace environment where risk awareness is ingrained in the organizational culture, leading to better decision-making and a stronger collective response to potential challenges.

The other options do not align with the goal of establishing a risk-aware culture. Ignoring risks or limiting the scope of risk management contradicts the very essence of a proactive risk strategy, while fostering competition among departments could create silos and distract from collaborative risk management efforts.