Risk Manager 1 / 9

Risk management committee

Risk management committee Role

  1. To agree the risk management

  2. Review risk reports from affected department

    Provide board guidance on emerging risks

    Work with the audit committee on designing and monitoring internal controls

  3. Monitor overall exposure and specific risks. Strategic risk monitoring could occur frequently

  4. Assess the effectiveness of risk management systems

Roles of a risk manager

  1. Providing overall leadership, vision and direction, involving the establishment of risk management (RM) policies

  2. Seeking opportunities for improvement of systems.

  3. Developing and promoting RM competences

  4. Reporting on the above to management and risk committee

  5. Ensuring compliance with relevant codes, regulations, statutes

Arguments against Risk management

  1. Cost

  2. Disruption to normal organisational practices

  3. ‘STOP ’ errors - where a practice has been stopped when it should have been allowed to proceed

  4. Slowing the seizing of new business opportunities

We use cookies to help make our website better. We'll assume you're OK with this if you continue. You can change your Cookie Settings any time.

Cookie SettingsAccept