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Business risk

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Published in: Business, Economy & Finance

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Transcript

  • 1. Business Risk By: Brian Oatway
  • 2. Why I choose this topic? I choose Business risk, because it will be what I will be doing next year. My presentation is tailored to college students who are looking to go into the service industry specifically around risk. The objective of this presentation is to inform prospective students of what a career in risk entails.
  • 3. Types of Business Risk  Security Risk  Financial Risk  IT Risk  Strategic Risk  Internal Risk  External Risk
  • 4. To successfully turn risk into results, one needs to become more effective at managing scarce resources, making better decisions and reducing an organization’s exposure to negative events.
  • 5. The Risk Cycle
  • 6. Common Questions  What are your key risks and how are they being managed?  Are there overlapping risk functions or gaps in coverage?  Is technology being optimized to minimize risk?  Where are there weaknesses in the organizations process?
  • 7. By mitigating risk…  Enhance the risk strategy  Embed risk management  Optimize risk management functions  Improve controls and processes  Enhance communication to achieve community confidence
  • 8. Risk Mitigation A systematic reduction in the extent of exposure to a risk and/or the likelihood of its occurrence
  • 9. Risk Mitigation Continued  http://www.youtube.com/watch?v=Mjpc CER4CG4
  • 10. Questions?