The benefits of good risk management do not just lie in the framework processes. There are also specific aspects of risk management which we deal with in later chapters.

People risk management

As we explain in Chapter 14, our people are not just a firm’s greatest asset, but can potentially be its greatest source of risk liability. Good people risk management is a fundamental part of good risk management. The benefits to the business, if you do it well, are enormous. It involves:

  • ■clarity of roles and the importance of their job
  • ■training and opportunities of learning
  • ■appraisals and regular feedback reinforcing excellent behaviours
  • ■clear performance criteria and reflecting behaviours leading to transparent ...

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