Risk Management Framework
Failure to identify and manage risk is often the root cause of major failures of both financial institutions and sectors of the financial services markets.
That is why it is high on the regulators’ agenda and why stress testing is so frequently applied to different scenarios.
Every organisation must be aware of its risks, irrespective of its size. Senior management has a responsibility for the identification and management of risk. All business decisions should be supported by risk analysis.
Risk cannot be completely avoided, however, senior management must understand the risks and ensure that it has the resources to manage them.
Waystone Compliance Solutions can:
- provide an objective assessment of your risks
- advise on the risks that your organisation faces and their potential impact on your business
- work with you on a Risk Mitigation Programme (RMP) and risk map
- review and, where necessary, create risk management policies and procedures in line with your business activities
- assist with the creation of a risk inventory.