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Fundamentals of Enterprise Risk Management by John J. HAMPTON

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CHAPTER 17ALIGNING RISK CATEGORIES WITH THE BUSINESS MODEL

RISK QUOTE: Everyone is a star and deserves a chance to shine.

—MARILYN MONROE, MOVIE STAR

RISK QUOTE: If you talk to a man in a language he understands, that goes to his head. If you talk to him in his language, that goes to his heart.

—NELSON MANDELA, SOUTH AFRICAN STATESMAN

Risk identification is often the hardest part of any risk management effort. One aspect of risk identification involves coordination across the enterprise. If those seeking out risks do not consider relationships, they may miss major risks completely. Another aspect is responsibility; a central risk function is required to identify risk and share its findings with risk owners.

Nonaligned Risk Categories

A number ...

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