Policies and Procedures are the Key to Effective Risk Management Programs

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Policies and Procedures are the Key to Effective Risk Management Programs

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The current regulatory environment in the financial services industry is volatile and many changes may happen over the next several years that could put businesses in this industry at risk. Whether more regulations are passed or if things become deregulated, it is crucial for businesses to have proper risk management programs in place to ensure they’re operating within an acceptable set of means.

In this article, BAI lays out the four steps companies must take to ensure they’re properly addressing risk management planning. Topics include:

Board-Approved Business Strategy
Board-Adopted Risk Appetite
Policies Supporting Risk Appetite
Procedures Supporting the Policies

To learn more on properly managing your company’s risk management strategies, download BAI’s article "Policies and Procedures are the Key to Effective Risk Management Programs" today!