Risk Management

Most large corporations, governmental units and educational institutions have some form of formal risk management program or department. Additionally, many firms have an appointed risk manger. The risk manger is the individual responsible for managing an organization's risks and minimizing the adverse impact of losses on the achievement of an organization's objectives. Traditionally, risk managers have focused on event risks, but some organizations have expanded the role to include other types of risk (e.g., operational risks).  It is the responsibility of the risk manager to help with the following:  

  

* Identify risks 

* Evaluate risks 

* Select the best techniques for treating identified risks  

* Implement the chosen risk management techniques 

* Regularly evaluate and monitor the program 

  

The risk manager is also involved in the managerial processes of planning, organizing, leading, and controllable activities in a business that deal with various types of risk.