Risk management processes are used to manage and monitor the ever-changing risk environments as a part of overall business processes, transactions, and systems. This requires that organizations have a risk management function that brings together risk management and business processes with an integrated risk management information architecture with embedded business intelligence and analytics.
An enterprise risk management program needs a structural design of risk management processes, including their components of inputs, processing, and outputs. This inventories and describes risk management processes, each process’s components and interactions, and how risk management processes work together in context of other enterprise processes.
Effective risk management processes deliver . . .
[GRC 20/20’s, Michael Rasmussen, is the author of this blog as a guest blogger at the following link]
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