August 2009
Beginner
308 pages
6h 50m
English
Content preview from Fundamentals of Enterprise Risk ManagementBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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CHAPTER 29CENTRAL RISK MANAGEMENT COMMITTEE
RISK QUOTE: For the want of a nail, the shoe was lost; for the want of a shoe the horse was lost; and for the want of a horse the rider was lost, being overtaken and slain by the enemy, all for the want of care about a horseshoe nail.
—BENJAMIN FRANKLIN, SCIENTIST,PUBLISHER, AND DIPLOMAT
RISK QUOTE: If a man does his best, what else is there?
—GEORGE S. PATTON, U.S. ARMY GENERAL
A central risk management committee (RMC) is a formal body established to provide advice on ERM. It is one tool for involving the board and senior managers in an ERM program. In most formulations, we can identify common characteristics of such a committee. Its purpose is to advise senior management and the board on policies ...
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