Sustainability Management

Risk Management

Risk management process includes:

  • recognition or identification of risks

  • ranking or evaluation of risks

    • tolerate
    • treat
    • transfer
    • terminate
  • resourcing controls

  • reaction planning

  • reporting and monitoring risk performance

  • reviewing the risk management framework


Categories and Drivers of Risk

Internally Driven Financial Risks

  • recognition or identification of risks

  • ranking or evaluation of risks

  • resourcing controls

  • reaction planning

  • reporting and monitoring risk performance

  • reviewing the risk management framework

Internally Driven Infrastructure Risks

  • Recruitment

  • People Skills

  • Health & Safety

  • Premises

  • IT Systems

Internally Driven Marketplace Risks

  • M&A Activity

  • R&D Activity

  • Intellectual Property

  • Contracts

Risk Management responsibilities

1) RM responsibilities for the CEO / Board:

  • Determine strategic approach to risk and set risk appetite (risk that is acceptable)

  • Establish the structure for risk management

  • Understand the most significant risks

  • Manage the organization in a crisis

2) RM responsibilities for the business unit manager:

  • Build risk aware culture within the unit

  • Agree risk management performance targets

  • Ensure implementation of risk improvement recommendations

  • Identify and report changed circumstances / risks

3) RM responsibilities for individual employees:

  • Understand, accept and implement RM processes

  • Report inefficient, unnecessary or unworkable controls

  • Report loss events and near miss incidents

  • Co-operate with management on incident investigations

4) RM responsibilities for the risk manager:

  • Develop the risk management policy and keep it up to date

  • Document the internal risk policies and structures

  • Co-ordinate the risk management (and internal control) activities

  • Compile risk information and prepare reports for the Board

5) RM responsibilities for specialist risk management functions:

  • Assist the company in establishing specialist risk policies

  • Develop specialist contingency and recovery plans

  • Keep up to date with developments in the specialist area

  • Support investigations of incidents and near misses

6) RM responsibilities for internal audit manager:

  • Develop a risk-based internal audit programme

  • Audit the risk processes across the organization

  • Receive and provide assurance on the management of risk

  • Report on the efficiency and effectiveness of internal controls

Risk assessment techniques
  • Questionnaires and checklists

  • Meetings and brainstorming

  • Inspections and audits

  • Flowcharts and dependency analysis

  • SWOT (Strengths Weaknesses Opportunities Threats) and PESTLE (Political Economic Social Technological Legal Environmental) analyses

Contact Us

No 174-182, Pansodan Road (Middle Block), Kyauktada Township, Yangon, Myanmar.

Phone: +95-1-8-381129, 381776, 381035
Email: enquiry@kmdcomputer.com

About KMD

KMD was founded in 1986 as a Training Institute. Now it holds presence in complete Technology paradigm of country with 900+ workforce.

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