Get Accountnowready Financial Risk Department

Background: Risk management is the process of identifying, measuring and treating property, liability, income, and personnel exposures to loss. The ultimate goal of risk management is the preservation of the physical and human assets of the organization for the successful continuation of its operations.

The role of the Risk Manager Provide a methodology to identify and analyze the financial impact of loss to the organization, employees, the public, and the environment. Examine the use of realistic and cost-effective opportunities to balance retention programs with commercial insurance.

This is included in the category of financial risk. There are at least 4 risks included in it, namely income risk, expenditure risk, asset or investment risk, and credit risk.

Business risk management is a subset of risk management which evaluates, prioritises and addresses the risks involved in any changes to your business operations, systems and processes. It acts as a guide in decision-making and planning in the event of an emergency or an opportunity.

It is tasked with monitoring the capital adequacy of the Bank to ensure on-going compliance with the prevailing legislative and regulatory requirements. It also supports the Board to manage market and interest rate risks.

Designing and implementing an overall risk management process for the organisation, which includes an analysis of the financial impact on the company when risks occur. Performing a risk assessment: Analysing current risks and identifying potential risks that are affecting the company.

Financial risk management is the practice of protecting economic value in a firm by managing exposure to financial risk - principally operational risk, credit risk and market risk, with more specific variants as listed aside.