Question

Explain the changing scope of risk management

Answer 1

in the last years, the recruitmemt ' buzzwords ' have been seen 'risk actuary '
New risk management proffesional Who has the commercial nouns to align risk with business planning and strategic objective

Answer 2

Answer:

Explanation:

Beginning in the 1990 and containing into the 21st century risk managers have started focusing on new types of risks and have begun using new methods of risk analysis.

Risk managers of corporation has started focusing more on verifying their companies. companies also have the option of obtaining new kinds of insurance policy to control risks, which managers and risk managers can take into consideration when determining the best methods of covering potential risk. Hence, these policies in effect guarantee a minimum level of profits even when a company experience unforeseen loss for circumstances it cannot control. E.g. natural disasters or economic downturn.

Risk managers can also help alleviate losses resulting from mergers. Stemming from the way of mergers in the 1990 and 2000, risk managers became more integral part of company merger and acquisition teams. Both parties in this transaction rely on risk management service to determine and control prevent risk . on the buying side, which manages examine is selling companies expenditures, loss history, insurance policies, and other areas that indicates a company’s potential risk.

Finally, risk managers have been called upon to help business manage to the risks associated with increased Reliance on the internet. the importance of online business activities in maintaining relationships with customer sand suppliers, communicating with employees, and advertising products and services has offered companies many advantages, but it has also exposed to them in new security risk and liability issues. business managers need to be aware of the various risk involved in electronic communication and commerce and include internet security among the risk management activities.

according to risk management risk managers begin to assess environmental risk such as those arising from pollution, waste management, and environmental liability to help make their companies more profitable and competitive