Meet a Certified Expert in Risk Management : Costas Stabolas

Risk management is about coping with the challenges of growth, complexity and competition in a sustainable manner. Risk managers identify and assess threats, put plans in place for if things go wrong and decide how to avoid, reduce or transfer risks. Specific tasks depend on the industry in which you are working.

Key activities may include:

Planning, designing and implementing an overall risk management process;

Risk assessment (identifying, describing and estimating the risks);

Risk evaluation (comparing risks with criteria like costs, legal requirements, etc.);

Quantifying the organisation's 'risk appetite' (i.e. the level of acceptable risk);

Risk reporting (to the board of directors so they understand the most significant risks, to business heads to ensure they are aware of risks relevant to their parts and to individuals to understand their accountability for individual risks);

Corporate governance, involving external risk reporting to stakeholders;

Conducting audits of policy and compliance to standards, including liaison with internal and external auditors;

Providing support, education and training to staff. 

(*) Certified Expert in Risk Management is a professional certification obtained from The Frankfurt School of Finance & Management, Frankfurt am Main, Germany.

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