Corporate risk managers identify and assess potential threats and opportunities to a company, and give advice on how to deal with them. They create preventive plans to avoid and reduce risks, and put plans in place for when the company is threatened. They coordinate risk management aspects across the different functions of an organisation and are responsible for technical activities such as risk assessment, risk mapping and insurance purchase. They report on risk issues to the senior management and the company's board.
No competences in this bucket.
The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.
A business practice to conduct long-term sustainable growth by seeking environmental, economic, and social strategies as its three main pillars.
A plan-based business strategy that aims to identify, assess, and prepare for any dangers, hazards, and other potentials for disaster, both physical and figurative, that may interfere with an organization's operations and objectives.
The critical predictors of unfavourable events that can adversely impact organizations. They monitor changes in the levels of risk exposure and contribute to the early warning signs that enable organizations to report risks, prevent crises and mitigate them in time.
The tools and techniques used to estimate probability of risks and assess their impact, such as probability and impact matrices, risk categorisation, SWAT analysis and ICOR analysis.
The tools and techniques used to quantify the effect of risks on the objectives and targets of an organization and assign them a numerical rating, such as interviews and surveys, probability distribution, sensitivity analysis, risk modelling and simulation, cause and effect matrix, failure mode and effects analysis (FMEA), cost risk analysis and schedule risk analysis.
The available options for paying off and account for the financial consequences of risks, such as risk retention, risk transfer and other alternative risk financing solutions.
The practice of observing, testing, and evaluating in a systematic manner the processes of the organisation in order to improve effectivity, reduce risks, and add value to the organisation by installing a preventive culture.
The different types of risk and the related classification criteria such as their nature and scope, the activity to which they relate, their causes and consequences and their financing.
The process of identifying, assessing, and prioritising of all types of risks and where they could come from, such as natural causes, legal changes, or uncertainty in any given context, and the methods for dealing with risks effectively.
The financial techniques aimed at avoiding damaging financially a business and instead, protect it in its operations. It is the operation of transferring liabilities and claims to third parties that have the financial muscle and specialise in bundling and managing risks in scale.
The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.
Define the extent and kinds of risks an organisation is willing to take in pursuing its objectives based on the organisation’s ability to absorb losses and the rate of return it seeks from its operations. Implement concrete risk tactics to achieve that vision.
Implement a risk treatment plan to address the risks identified during the assessment phase, avoid their occurrence and/or minimise their impact. Evaluate the different options available to reduce the exposure to the identified risks, based on the risk appetite of an organisation, the accepted level of tolerance and the cost of treatment.
Take control over plans and strategies in critical circumstances showing empathy and understanding to achieve resolution.
Estimate the potential losses associated with an identified risk by applying standard risk analysis practices to develop an estimate of probability and impact on the company. Take both financial and non-financial impacts into account. Use qualitative and quantitative risk analysis techniques to identify, rate and prioritise risks.
Apply a set of principles and mechanisms by which an organisation is managed and directed, set procedures of information, control flow and decision making, distribute rights and responsibilities among departments and individuals, set corporate objectives and monitor and evaluate actions and results.
Provide advice on risk management policies and prevention strategies and their implementation, being aware of different kinds of risks to a specific organisation.
Synchronise the efforts, plans, strategies, and actions carried out in departments of companies towards the growth of business and its turnover. Keep business development as the ultimate outcome of any effort of the company.
Perform research and analysis of the external factor pertaining to companies such as consumers, position in the market, competitors, and political situation.
Research and understand various internal factors that influence the operation of companies such as its culture, strategic foundation, products, prices, and available resources.
Determine the influence of economical, political and cultural risk factors and additional issues.
Ensure you are properly informed of the legal regulations that govern a specific activity and adhere to its rules, policies and laws.
Lead and manage according to the organisation's code of conduct.
Analyse the operations and actions of a company in order to assess their repercussions, possible risks for the company, and to develop suitable strategies to address these.
Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.
Analyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the options and alternatives to a challenge and make sound rational decisions based on analysis and experience.
A mathematical representation of a system, commonly incorporating probability distributions and using relevant historical data as well as expert elicitation to understand the probability of a risk event occurring and its potential severity.
The different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.
The security risk factors, such as hardware and software components, devices, interfaces and policies in ICT networks, risk assessment techniques that can be applied to assess the severity and the consequences of security threats and contingency plans for each security risk factor.
The practice whereby insurers transfer portions of their risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from an insurance claim. The party that diversifies its insurance portfolio is known as the ceding party.
The different types of instruments that apply to the management of cash flow that are available on the market, such as shares, bonds, options or funds.
The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.
The set of accounting standards and rules aimed at companies listed in the stock exchange which are required to publish and disclose their financial statements.
A mathematical technique used to predict, estimate, and analyse a range of future possible outcomes for an uncertain event. The process is performed through a simulation to estimate a range of values.
The accounting standard accepted in a region or country specifying the rules and procedures to disclose financial data.
No competences in this bucket.
Evaluate supplier performance in order to assess if suppliers follow the agreed contracts, meet the standard requirements and provide the desired quality.
Analyse financial statements, financial information and the outlook of the company in order to determine the going concern of the company.
Gather information about the insurance needs of a client, and give information and advice about all possible insurance options.
Revise and analyse financial information and requirements of projects such as their budget appraisal, expected turnover, and risk assessment for determining the benefits and costs of the project. Assess if the agreement or project will redeem its investment, and whether the potential profit is worth the financial risk.
Implement procedures and techniques that could help determine the level of reliability of the information in the sense of reducing risks and increasing infallibility in the decision making.
Compile full reports of appraisals of properties, businesses, or other goods and services being appraised using all the data gathered during the appraisal and valuation process, such as financial history, ownership, and developments.
Gather all the information, analyse the variables and create reports where the detected risks of the company or projects are analysed and possible solutions are suggested as counter actions to the risks.
Envision, plan, and develop strategies for companies and organisations aimed at achieving different purposes such as establishing new markets, refurbishing the equipment and machinery of a company, implementing pricing strategies, etc.
Read, search, and analyse the political situation of a region as a source of information applicable for different purposes such as information, decision-making, and management, and investments.
Analyse and evaluate commercial risks and develop suitable strategies to resolve these risks.
Identify the quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their operational and strategic goals, using preset performance indicators.