6a. ALL - Risk Identification: The Foundation of a Great Risk Management Program (Basic - OPEN)
Identifying enterprise risks is a fundamental step for any comprehensive risk management program and is crucial for anticipating and mitigating potential challenges that could impact your firm. By proactively identifying risks, firms can develop effective strategies to manage and minimize their impact, enhance resilience and safeguard against potential disruptions. Developing a risk framework can be a daunting task, but breaking down each component is crucial to success. In this session, participants will learn the first steps to creating a risk management program by understanding the various risk categories and how to identify risks associated with their firm’s business model.
This session is open to regulators but closed to members of the press.
Learning Objectives:
Explore the various categories of risk such as Operational, Financial, Compliance, Reputational, among others.
Evaluate how these risks can impact the firm’s business and operations.
Learn methods to identify risks and ways to uncover hidden risks.
Understand where risk identification fits within a risk management framework.
