Risk managers may argue that the basic principles of Risk and Control Management (R&CM) are well established, and indeed enshrined, in industry standards. The concepts may indeed be broadly known, but they are applied in such a scattered fashion that they are not fit for purpose.
The resourcing and costs of the R&CM approach should be aligned with the company’s structure, business model, and risk profile. The approach should also provide guidance on the efficiency of the control environment as much as its effectiveness, by showing, for instance, the gap between the inherent risk and the residual risk after the control is implemented.
Content: Article
Authors: Joseba Eceiza, Piotr Kaminski, Thomas Poppensieker
Source: McKinsey Quarterly
Subject: Risk Management
Authors: Joseba Eceiza, Piotr Kaminski, Thomas Poppensieker
Source: McKinsey Quarterly
Subject: Risk Management
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