Risks are occurrences which can have adverse implications for a business, as well as loss of revenue or reputational damage of a corporation, should they occur. Every business at every level faces a number of risks regardless of the size. The manager and his group have to consider these risks and develop plans to resolve them, which is a term called risk management system.
Risk management is crucial for any organization. This offers foresight for returns on investments and projects all the possible opposition that a business might face by implementing a new (or even routine) initiative.
There are five steps to take in first evaluate the risk and the appropriate response before deciding the most successful risk management approach for your situation. The steps includes, Risk identification, Risk Analysis, Risk Evaluation, Risk Treatment and Risk Monitoring.
At the end of this course, you will be able to;
- Understand the fundamentals of risk management
- Know how Operational Risk Management Works
- Learn how New Business Development can be achieved
- Regulatory and Statutory Requirementsof Risk
- And many more…