I think it could be helpful to consider implementing a Risk Council that can make limited parameter changes (for the sake of expediency). There is a current Aave proposal that is similar: Improve permissions management on Aave v2 and define a better strategy for access control roles on Aave v3 - Governance - Aave
I think one major flaw in Gauntlet’s work is that it takes too long through the normal proposal system to implement risk-based parameter changes that often should be occurring more quickly.
A Risk Council (a 3/5 multi-sig) would be able to implement certain changes more quickly and would thus serve to reduce risk in a more expedient manner.
To my knowledge, the Compound v2 and v3 codebases don’t allow a separate governor for different parameters (without being re-written). However, the governor contract (Governor Bravo) could be modified to allow dynamic governance speeds or processes for different actions, e.g. setting a collateral factor could have no review period, while replacing a smart contract could have a five day review period.
Speaking for myself, I’m very bullish on more configurable governance powers that allow delegations for certain roles like financial risk management. I like the idea of either a multi-sig described above and/or an Optimistic governance mechanism where whitelisted accounts can propose risk parameter changes that can be executed quickly if there are no disputes within a given timeframe.