Under Control: Governance Across the Enterprise

4.3. The Risk Management Process: A Bird's-Eye View

Before we look at the details of how risk management can be done, let's identify some of the key roles in the risk management process, and attempt to define what we mean when we use the term "risk."

4.3.1. Risk Management Roles

Many different roles within the corporation need to be involved in the process of enterprise risk management. Someone (often the Chief Risk Officer) oversees the entire process to help ensure that risk management is consistent across all departments. Risk executives also need to effectively communicate the corporate risk tolerance, validate that employees understand how much risk they are allowed to undertake, and help ensure that this knowledge is being used to guide ...