The first stage of developing a financial risk management system is to analyze the external and internal environment of the enterprise. As a result, a list of various factors is formed, including political, economic, environmental and others that affect the conditions of activity at the regional or international level.
It is necessary to identify the main factors that have a significant impact on the company's goals. In addition, an analysis of competitive forces is required, including interaction with key counterparties.
Within the organization, the following aspects need to be analyzed: organizational structure, powers and responsibilities, internal material and intellectual potential, formalized functional and business strategies, corporate culture.
How to Create a Financial Risk hong kong email list Management System
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The risk management policy establishes the following aspects:
justification of the need for risk management;
reporting procedures;
clear delineation of the powers of officials when making decisions, including the corresponding rights of access to information;
methods of resolving conflict situations;
criteria for measuring the effectiveness of risk management and reporting requirements;
tasks and frequency of procedures for improving the risk management system.
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