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<br /> <br /> <br /> <br /> <br /> Contents of a Written Statement <br /> <br /> The risk management policy statement: I <br /> <br /> Begins with a general description of risk management and its importance to the <br /> organization <br /> <br /> Discusses the position of the risk management department within the overall <br /> organizational structure <br /> <br /> Defines reporting relationships <br /> <br /> Outlines the scope of the authority and responsibility of the risk management <br /> professionals in dealing with others within the organization <br /> <br /> May describe the internal structure of the risk management department <br /> <br /> Clearly states senior management's objections for making appropriate use of risk control <br /> and risk financing techniques <br /> <br /> Specifies particular decision rules for various risk management techniques, depending on <br /> the level of detail the organization typically uses in policy statements regarding other <br /> functions <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 2 <br />