Thursday, December 29, 2011

Risk Monitoring

This phase is the establishment of a monitoring and control of the risk profile of the company. It starts with the determination of the tolerable level of risk for the company. This tolerance is defined not only in terms of maximum risk but also in terms of risk atypical. Of course, the threshold defined by the company must be a regular challenge to ensure its relevance to the evolution of endogenous factors (trade policy, training ...) and exogenous (regulation, competition ...).

The monitoring device as defined by the company and driven by the risk management objectives are to:

* Increase the visibility of the risks;
* Better organize and improve processes;
* Preserve the results or business performance;
* Optimize the load management;
* Assign more effectively equity.

To achieve these objectives, the company has a network of "corresponding risk" in charge of a "portfolio risk" associated with the activities. This will be for this team:

* Implement the actions for the detection of risk (term limits ...)
* To analyze the causal factors of risk events (no audit clauses in contracts ...)
* Ensure the implementation of corrective actions and the definition of operational contingency plans (follow the recommendations ...).

To complement this, it is necessary to define indicators for the management of major risks that may be presented to all levels of the company (management, legislative and executive).

These sets of provisions are the minimum needed to ensure accountability, awareness and training of stakeholders on issues of risk.

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