The value of the risk management SYSTEM

What value is risk management ultimately bringing a company? This is the fundamental question we are all asking. If it can be answered, then the role of risk manager will take on a different meaning and level of influence. This change, what it is rather than what we want it to mean, is critical to improving and clarifying understanding by CEO´s and CFO´s of what risk management really is. For me there are two key elements that are missing, or not rigorous enough, within most companies and regardless of size. And it might take some effort on behalf of the risk manager to discuss and extrapolate where changes in some engrained business processes are needed. Firstly, there is the actual system of risk management being used and secondly, there is the way this is being translated into the financial language. I specifically use the word “system” as the process of risk management should be clear already. It’s the system that

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