Page 77 - RISK Management IC86 Ebook
P. 77
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l Does the company have an integrated enterprise risk
management function? If yes, how does it fit in the
organizational structure? Does the company have a CRO
or just an ERM committee? Who does the CRO or the
Committee report to?
l Does the company have a well-integrated risk management
culture?
l How strong is the support for the risk management
function?
l Describe the adequacy of the audit and control systems,
quality of management reporting, aggregation of risks,
risk limits and guidelines, and how accessible are they?
l How is the Board of Directors informed about the ERM
results?
l How is management compensated?
l Are there predetermined limits for levels of risk it will
accept?
l What are the company's major risks? How are those risks
mitigated? What is the economic impact to those risks
over various confidence intervals? Does the company
measure the tail risks? How does it protect from
catastrophic events?
l How does ERM add value to the corporation?
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