Why should every organisation have an effective Risk Management Committee? - GRM Institute

Why should every organisation have an effective Risk Management Committee?

Need for an effective risk management committee

By Alumni

 

With the changing market scenario, Risk Management is becoming the essential area for the management to look into. An effective Risk Management is important to assess the company’s risk profile in the key areas of ‘Risk’ in particular, and also to examine and determine the sufficiency of the company’s internal processes for reporting and managing key risk areas.

So, an effective Risk Management Committee ensures that the company is taking appropriate measures to achieve prudent balance between ‘Risk and Reward’ in both on-going and new business activities and further with the new corporate governance rules and other regulations as well, the listed companies and other prescribed class of companies are required to have a Risk Management Committee.

 

Nikhil Nair, PGDRM Jan’20-21

Pre PGDRM qualification: M.com, CA (Cleared in March 2021)

 

 
Building up an effective Risk Management Committee is as essential as planning for business goals. Read more here:

 

Building up an effective Risk Management Committee

 

 

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