RSK4801 Assignment 2 (COMPLETE ANSWERS) 2024 - DUE 12 July 2024 ;100% TRUSTED workings, explanations and solutions. for assistance Whats-App ... .......
CASE STUDY: RISK MANAGEMENT – THE ROLE OF A RISK MANAGER Since 2020, many incidents and events have caused organisations to adopt a focuse...
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, RSK4801 Assignment 2 (COMPLETE ANSWERS) 2024 -
DUE 12 July 2024 ;100% TRUSTED workings,
explanations and solutions. for assistance Whats-App
..........
CASE STUDY: RISK MANAGEMENT – THE ROLE OF A RISK
MANAGER
Since 2020, many incidents and events have caused
organisations to adopt a focused approach towards risk
management and the role of risk managers. Examples of these
events are the COVID-19 pandemic and its severe effects on
many countries, economies, and businesses. South Africa was
not excluded from the pandemic and was further hampered by
severe power interruptions and inadequate service delivery.
These are all risk-related incidents/events involving risk managers
to assist in the management thereof. According to an article in
Enterprise Risk Magazine (2023), uncertainty also boosted the
profile and role of risk managers. Large-scale risks are happening
more often, which requires sound risk management to cope with
the increasingly unclear business and physical environments. As
such, it seems imperative that the role of risk managers and
appropriate risk management tools is clear. The classic three
lines of defence in the risk governance model endeavour to
demarcate the various roles regarding the management of risks.
Although there are many issues surrounding this model, it
provides a foundational guideline for the roles of the main role-
players in risk management. Regarding the tools for operational
risk management, it seems that there are concerns over the
predictive powers of key risk indicators (KRIs), the value of risk
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