Organizational policies and records ie corporate

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Organizational policies and records I.e. Corporate bylaws, board minutes, employee manuals, procedure manuals, mission statements, and RM policies Internal documents
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A drawback is the sheer volume of documents that some organizations generate internally Flowcharts and organizational charts A flowchart is a diagram that depicts the sequence of activities performed by a particular organisation/process Shows the nature and use of the resources involved in its operations as well as the sequence of and relationships between those operations An organizational chart depicts the hierarchy of an organization's personnel and can help to identify key personnel for whom the organization may have a personnel loss exposure Helps track the flow of information through an organization and identify any bottlenecks that may exist Loss histories Reviews an organization’s own losses/those suffered by comparable organizations Important indicator of an organization's current/future loss exposures Compliance review Determines an organization's compliance with local, state, and federal statutes and regulations Help an organization minimize/avoid liability loss exposures They are expensive and time consuming Inspections Expertise within and beyond the organization Hazard analysis A method of analysis that identifies conditions that increase the frequency/severity of loss Articles #1: Risk Advisory collaborates 2015 was the most lethal year for terrorism in Europe for almost 10 years #2: 2016 Emerging Risks Innovation is quickly arising New loss-control technologies and regulations may assist companies in mitigating their exposures but companies must have a much higher level of understanding of their exposures in order to be able to outpace their competitors and survive these new-world risks Big data and predictive analytics will be instrumental to businesses seeking to capitalize on these trends and anticipate their risks #3: How risk is driving today’s boardroom Stakeholders are increasingly holding corporate leadership to a higher standard when it comes to managing risks of all kinds - systemic risk, geopolitical risk, credit risk, cyber risk, macroeconomic risk, technology risk, and more News media and popular culture has shaped our thinking around risk as something to be
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avoided - as the inevitable evil of doing business However, those organizations that are leading the charge on effective RM view risk as opportunity instead of something that must be avoided If you know what your risks are, you are in a better position to make decisions that drive better business performance People think that risk and opportunity don’t go hand in hand The right approach requires a consideration of the risks at hand, as well as the opportunities and benefits that can be gained An appropriate investment in a risk monitoring and mitigation tool would ensure risk is managed appropriately
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  • Fall '12
  • M.M.
  • overview of Risk Management

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