User:Senay ma/sandbox

The ERM model implies the leadership by an individual who is responsible for the development and implication of an ERM strategy and assists the senior management in terms of risk management. In order to this a CRO sets up a risk management framework and policies based on the ERM strategy. Furthermore, he implements reports and risk indicators to communicate the risk culture throughout the firm. These reports assist the CRO in creating a risk profile. He is communicating the firms risk profile to the key stakeholders such as the CEO, the board of directors and business partners. The optimizing of the risk portfolio is another assigned task by the ERM. He advises for firm projects from a risk management point of view and uses regulations and risk transfer strategies in order to mitigate the risk.