Remember that risk management on its own is neither a profit centre nor a business vertical which can support its own costs.
A person who primarily holds responsibility for an organisations risk management programme is, at times, referred as a risk management professional, but is more popularly called as Risk Manager.
Risk management policy statement is the basic document which endorses senior management support of the programme and its objectives.
The risk management programme should support the organisations overall goals or mission.
The risk management programme objectives can be formulated for the Pre-loss and Post-loss scenario. The 'Pre-loss' measures can be termed as 'objectives even if no loss occurs' whereas the 'Post-loss' objectives can be termed as 'objectives in the event of a loss'.
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