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6. Systematic, structured and timely risk management
This section looks at the suitability of risk management as a reactive, preventive and proactive approach.
6.1 Business and financial stakes versus cost of risk
The use of risk management systems is reflected in a triple posture described in the table 14 . When a company's management calls on the help of risk managers, or asks for internal advice or support, this can take a number of different forms:
request a preventive risk analysis. For example, before a product is launched on the market, senior management asks its risk manager for an opinion on the risks of marketing an offering (financial, operational, compliance and reputational risks);
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Systematic, structured and timely risk management
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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The Ultimate Scientific and Technical Reference