Page 191 - RISK Management IC 86
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The Insurance Times
large multinationals, much of the task is also delegated
to the local management. This creates a problem. Also,
since it is difficult for one person to know everything,
even a department composed of individuals with different
skills also need the advice and guidance of experts.
Arguably, the best placed people in any organization to
discover hazards and identify major exposures are local
operating management. So, a risk manager must obtain
local cooperation and advice. In regard to the remainder
of risk management process, the risk manager's role
may largely consist of advising top management, on the
techniques to be used for the evaluation, control and
financing of risks.
He may also be drawn into the task of helping his
colleagues from engineering, production, financial and
other departments to establish risk control measures
compatible with the corporate objectives. He is
sometimes asked to advise in financing of residual risks.
The extent to which risk managers are involved in
executing agreed risk management policies varies
considerably. Most are responsible for administering
insurance programmes.
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