Fundamentals of Risk Management

Index
451
regulatory risk control 284
risk tolerance definition 310
communication
common language of risks 3
definitions and terminology 3–4
communication and information 6
5Cs of 331
common language of risk 321–22
COSO framework and 77–8
CRAM skills 327–28
guidelines 320
intranet risk information 322
organizational delivery 86
presentations and graphics 330–31
reporting risk 424
risk information and 316–17, 319–20
of risk management 5
risk management information system 92
RMIS 322, 323–24
three-stage approach 330
Companies Act (2006)
management statutory responsibility 260–61
competency
risk practitioners 325
competition 426
unethical behaviour 238
compliance
internal control 394
unethical trading and 238
compliance/mandatory risks
car ownership example 37–8
classification of 140
computer system example 19
controls 274
definition of 17
health and safety 43–4
implementation of management 63
importance of compliance 62
levels of risk management and 54–6
minimizing 43–4
risk control 284
style of management 289
computers see information technology
Control Objectives for Information and Related 
Technology (COBIT) 110–11
control of risk 2
confidence 147–48
control risk self-assessment (CRSA) 405–06, 
408–09
control/uncertainty risks
bow-tie model of management 32–4
car ownership example 37–8
classification of 140
computer system example 19
definition of 17–8
implementation of management 63
levels of risk management and 56
managing the uncertainty 40
style of management 289
corporate social responsibility (CSR)
ethical trading in supply chain 238–39
reporting on 239
risk management and 235–37
CORR model 229
COSO ERM framework 3, 50
approach and scope of 72–4
cube 76–8
features of 78–9
good safety culture 401
internal environment 395
risk classification and 135–37
risk information and communication 319
updating 80, 81
COSO Internal Control framework 425–26
cost of risk
appetite for risk 307
containment and risk assessment 157–58
council risk management policy 246
CRAM skills 327–28
crime
mitigating theft risks 41
money-laundering risks 43, 44
see also fraud
crisis management
resilience and 108
Criteria of Control (CoCo) 78–9
control environment framework 395–97,
399
control risk self-assessment 408
internal control definition 394
measure risk culture 295
risk culture of organizations 109
risk maturity 301
customers
bank operational risks 365
corporate social responsibility 236
CORR components 232–33
external context 84–5
operational risks 369
damage limitation 153
insurance 154
debt, as emerging risk 106
decision-making
analytical skills 332–33
buying a car 131
over-concern about risk 54–5
see also strategic decision making
Deepwater Horizon spill 157
demographics 106
Department of Culture, Media and Sports
337

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