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Risk: The New Management Imperative in Finance by James T. Gleason

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The Global Risk Management Development Model 15

Risk Management is situated between senior management and the operating infrastructure. A colleague describes this as being squeezed in a vice, caught between senior management's wishes and the reality of operations. I prefer to view it as a vital connection between strategic imperatives and daily practice. Let's look at the three pieces (Exhibit 15.1).

Exhibit 15.1 Risk Management: Development Model

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MANAGEMENT DIRECTION

Senior management provides overall direction, based on strategic considerations. After examining the firm's strengths and weaknesses and its position in the markets, they determine ...

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