Risk control is the process of identifying, monitoring, limiting, avoiding, offsetting and transferring risks. The primary objective of risk control is to maintain the risks that have been retained by the enterprise at levels that are consistent with company risk appetites and company plans. Risk control is most effective if it is applied universally throughout the organization, but can still be very useful if applied separately to divisions or business units of an enterprise. [Source: Society of Actuaries (SOA) Enterprise Risk Management Specialty Guide]
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