rms

Risk Management System: Risk Management System increases the visibility of the business process and increases the resistance to market uncertainties. Risks are inherent to process and procedures and are broadly similar in each market irrespective of brands represented, or geography. These risks cannot be managed by standard policies and procedures or internal controls and rely on good risk management to develop bespoke action plans. The Risk Management System process includes identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. An organization may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy (or combination of strategies) in proper management of future events.