Risk manager (or a risk management professional) is a person who primarily holds responsibility for an organisations risk management programme.
The tasks involved in the stage of controlling risk management programme are: setting performance standards and metrics, judging/comparing actual performance deviations with such standards and taking corrective actions to improve future performance.
Risk management policy statement in a written form is an effective communication tool. It is the basic document which endorses the senior management support of the programme and its objectives.
Significant loss exposures to an organisation can be a result of either a one-off event or a series of accumulated losses. Every loss exposure has three dimensions : Potential monetary loss, Value exposed to loss, Peril causing loss
Types of risk identification techniques : i) Study and enquity through initial risk information sources and document review, ii) Physical inspection / survey by site visits, iii) Completion of a checklist or some sort of questionnaire for eliciting information, iv) Threat analysis by compiling a list of threats to the business
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