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Risk Management: What it actually means?
Risk management is the ongoing process of identifying, assessing, responding to and monitoring risks across the enterprise so that they stay within the organisation’s appetite. Consulting work starts with a risk framework — categories, roles, reporting — and then embeds it into business planning, operations, finance, IT and compliance. Typical responses include controls, segregation of duties, insurance, supplier diversification, business continuity and training. Boards value this because it turns risk from an ad hoc activity into something systematic that can be evidenced to regulators and auditors. Done well, risk management supports growth rather than blocking it, because management can see which risks are acceptable and which are not.
