David Hilson, in Innovative Risk Management
, says risk management
requires fresh thinking, namely in the development of effective risk responses.
With implementation of a risk management
strategy underway, organizations must also institute a process for the continual evaluation of risk management
processes and measures.
Integrating risk management
with strategy-setting, such as an enterprise risk management
(ERM) approach, helps an organization manage its risks to protect and enhance enterprise value in three ways.
But until boards start to tackle these issues, risk management
is likely to be seen by senior management as a constraint on their business, rather than the source of competitiveness it should be.
How should records and information risk management
be administered within an organization?
As an organization, it is faced with a series of risk management
issues regarding both clientele and staff.
Building an enterprisewide risk management
system requires investment.
With more than 17 years of relevant experience, Michelle has supported numerous risk management
engagements and is a frequent speaker and writer on the subject of enterprise risk and regulatory compliance.
The more complex a business, she says, the more likely a company will have an enterprise-wide risk management
program with a more powerful CRO who reports to the CEO and audit committee (or to the risk committee that is typically a subset of the audit committee).
Successful risk management
plans require support and commitment from management.
The purpose of this small group (fewer than 100 members) is "to foster research into topics in risk theory and risk management
Accordingly, we look forward to the recommendations of the Counterparty Risk Management
Policy Group (CRMPG) regarding private-sector initiatives for enhancing the credit-risk-management practices of creditors and their leveraged counterparties.