BFCC Organizational Risk Culture Drivers & Organizational Value Discussion

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ebuvgcngry3089

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Ben Franklin Career Center

Description

500 words

apa format

Please, also answer the following:

1) What are some examples of internal drivers of an organization’s risk culture? Resource allocation, risk attitude, risk appetite, risk tolerance, employee records

2) What are some examples of external drivers of an organization’s risk culture? Political, social, economic, and technological

3) How can an organization’s risk management function create organizational value?

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Explanation & Answer

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Question 1
Examples of internal drivers of an organization’s risk culture
Resource allocation, risk attitude, risk appetite, risk tolerance, employee records
Question 2
What are some examples of external drivers of an organization’s risk culture?
Political, social, economic, and technical
Question 3
How can an organization’s risk management function create organizational value?
Introduction
An organization may face risks that are operational, financial, strategic, and compliant. The process of
the risk management function includes the following:






Identifying the risks in an organization
Evaluating the critical risks facing the organization
Scoring of risk exposure to enable management action prioritization
Quantifying the risk
Coming up with a risk management framework

The risk management function is vital in an organization. It helps organizations improve the decisionmaking ...


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