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It seems an obvious question, but there seems to be a great deal of variety in the scope and remit of risk managers. So what is the role of the RM, and what responsibilites should they have?

flag	asked Jan 10 at 14:52 Stephen J♦♦ 42●5

John · Accepted Answer · 2010-02-11 15:42:48Z UTC

Besides having a clear role and responsibilities, an good risk manager must have:

Organizational and leadership skills to effect change
Communication skills – “to simplify without being simplistic”
Judgment to balance business and risk requirements
ability to integrate risk management into strategic planning and day-to-day business processes

John · Answer 2 · 2010-01-13 12:59:01Z UTC

Depending on the size of the organisation the risk management function may range from a single risk champion, a full time risk manager, to a full risk management department.The role of the Risk Management function should include the following:

• setting policy and strategy for risk management

• primary champion of risk management at strategic and operational level

• building a risk aware culture within the organisation including appropriate education

• establishing internal risk policy and structures for business units

• designing and reviewing processes for risk management

• co-ordinating the various functional activities which advise on risk management issues within the organisation

• developing risk response processes, including contingency and business continuity programmes

• preparing reports on risk for the board and the stakeholders

what is the role of the risk manager?

2 Answers