Fundamentals of Risk Management

Index
454
implementation of management 63
levels of risk management and 56
loss prevention 156
mitigation and 41–3
risk controls 274–75
risk magnitude 153–54
style of management 289
zones of response 190–91
health and safety
ALARP levels 146
appetite for risk 314
controlling factors 40, 41
corporate social responsibility 236
corrective controls 192
detective controls 195
directive controls 193–94
hierarchy of controls for 188
infrastructure risk control 277–78
intranet communication 322
loss prevention 156
preventive controls 192
risk controls 272
training 319
HM Treasury
defining ERM 98
defining risk management 46
honest box of Wall Street vendor 161
Hortons (Tim) 336–37
hotels fires 154
impacts
bow-tie model 133
business impact analysis 214
high-impact risk 130
low, medium and high 146
risk matrix and 144
risk significance 149–50
tests for significance 147
implementation
barriers and actions 292
information technology
bank operational risks 365
business continuity planning 207
COBIT and 110
hazard risks of 25
infrastructure risk control 279–80
operational risks 369
range of risks for 19
resilient and protective 86
risk management specialism 49, 50
stakeholders and 358
supermarket data security 390–91
timescale risk 36
infrastructure
benefits of management 65
long to short term risks 141
risk control 277–81
riskiness index 165
scenario planning 215–16
significance of impact 147
see also FIRM risk scorecard; information 
technology
injuries 25
Institute of Internal Auditors (IIA) 419
defining ERM 98
definition of risk 16, 17
levels of risk 20
Institute of Risk Management standard 1, 9, 60
approach and scope of 72–4
definition of risk 15, 16
features of 78
financial institutions 368
framework of 76
risk appetite definition 303
risk classification and 135, 137
types of risk 140
insurance
6C of buying 200–03
alternatives to 197
balance sheet protection 198–200
banking operational risks and 360–61
business requirements 201
captive companies 203–05
categories of disruption 42–3
compliance risks and 43
compulsory liability 198
damage limitation 154
directive controls 194
employee benefit 198–200
evaluating need for 200
handling of claims 202
history of 197–98
importance of 196–97
insurance risk manager role 262–63
Intu Properties case 172
limitations and exclusions 201
mandatory obligation 198–200
outsourced suppliers 387
responsibilities of 258
risk information system 323
risk management and 45–6, 48–9
taxes 284
timescale of risk and 35–6
types of cover 198–200
internal audit manager
responsibilities of 259
internal control
audit committees 402–04
environment of 395–97
evaluating environment of 400
expectations of 412
features of environment 397–39
internal audit and 411
hazard/pure risk continued

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