Identify and Evaluate: Identify potential risks to the organization's operations, projects, and initiatives. Assess the impact and likelihood of risks and develop risk mitigation strategies. Conduct regular risk assessments to identify emerging risks and update risk profiles.
Risk Mitigation and Control: Develop and implement risk management strategies, policies, and procedures. Design and implement control measures to minimize identified risks. Collaborate with relevant stakeholders to ensure effective risk mitigation and control activities.
Risk Monitoring and Reporting: Establish risk monitoring systems and processes to track identified risks. Monitor and evaluate the effectiveness of risk mitigation measures. Prepare and present risk assessment reports to senior management and other stakeholders.
Compliance and Regulatory Requirements: Stay updated with relevant laws, regulations, and industry standards related to risk management. Ensure compliance with applicable regulatory requirements. Provide guidance on risk-related compliance matters to business units and functions. Design and implement robust risk management process and actively compute financial risk as they present themselves.
Risk Culture and Training: Promote a strong risk management culture within the organization. Conduct training sessions and workshops to enhance risk awareness and understanding. Collaborate with HR to integrate risk management principles into employee training and development programs.
Stakeholder Collaboration: Work closely with cross-functional teams to understand their risk management needs. Provide guidance and support to business units in identifying and managing risks. Collaborate with internal audit and other assurance functions to ensure alignment in risk management efforts.
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