Risk Maturity Measure on Culture Domain among Executive Staff in One of the Government Linked Companies (GLCs) in Malaysia

Purpose of this study is to determine the risk maturity assessment on the competence of culture domain among executive staff in one of the Government Linked Companies (GLCs) in Malaysia. The research design used in this study is a quantitative, exploratory survey designs. A survey questionnaire (RMS17) used in this study was adapted based on business risk management maturity model. Pilot study reported a reliability of Cranach’s Alpha = 0.96 (very high reliability). The study measure and highlighted the questionnaire via focus group face-to-face approach to the respondents among executive staff in the company to manage the risk management maturity survey. It measures four levels of risk maturity namely: beginners, intermediate, progressive and matured focusing on the competence of culture domain. Results of the maturity survey on the competence of culture domain among executive staffs of the company achieved progressive level, with mean = 2.92. The characteristics of competence with progressive level on culture domain in risk maturity level, is where the company involved is prepared to take appropriate risks, have good understanding of the benefits across the company and the strategy is mapped into process implementation. Progression level is a level where most organizations will aspire to and be satisfied. Therefore, this study provides a way to measure risk management capacity against four standard levels of maturity, allowing them to conduct benchmarking and to improve and increase the ability to manage risks.