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2. Risk management: creating and preserving value
2.1 Implementing risk appetite: risk acceptance and limits
One of the key objectives of risk management according to the ISO 31000 :2018 is to define the way in which the function will enable value to be created, or at least preserved. The notion of safeguarding value is, in fact, entirely conceivable as part of the risk management process.
This can be illustrated, for example, by the risk transfer measures made possible by the introduction of insurance coverage. It can also take the form of the recovery of undue payments from customer collection processes, following a risk control action. Another example is the implementation of an anti-fraud program,...
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Risk management: creating and preserving value
Risk management integrated into organizational structures
Bibliography
Standards and norms
- Risk management – Guidelines. - ISO 31000 :2018 - Février 2018
- Risk management – Risk assessment techniques – Risk management – Risk assessment techniques. - NF EN IEC 31010 - Août 2019
Regulations
European Directive 2009/138/EC – Solvency II of November 25, 2009 on the taking-up and pursuit of the business of insurance and reinsurance.
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