Chapter 17. Risk Management Structure
Assessing risk is part of the wider process of managing risk. Risk management is not simply a question of writing down procedures to ensure compliance with a set of rules, it is to ensure that prescribed procedures are observed – it is a governance function.
Not only is risk management a corporate obligation within an organisation, it is also a personal obligation of all personnel. While the strategic management of risk is a board responsibility for which the execution of its strategy may be delegated to a team of individuals, in any organisation, there must be one person ultimately accountable for the management of the organisation and its operations.
Risk management involves ascertaining, assessing and controlling ...
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