ACCA SBL Syllabus D. Risk - Risk Management Systems - Notes ^{2 / 9}

The Risk Manager is responsible to Senior Management for the following functions:

1. To identify and quantify the organisation’s exposures to accidental loss.

2. To adopt proper financial protection measures through risk transfer (to outside parties), risk avoidance, and risk retention programs.

3. To develop and update a complete system for recording, monitoring, and communicating the organisation’s Risk Management program components

4. To develop and implement loss prevention/loss retention programs.

5. To establish Risk Management policies and procedures