Fraud Risk Management

Overview

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Integrated risk management

What is Integrated Risk Management?

The rise in digital processes, the era of globalization and the trend toward third-party reliance are forcing organizations to evolve from a siloed risk management approach to IRM, requiring additional technology to support these complex processes.

  • Bridging the strategy/tactics gap to ensure that project delivery is tied to organisational needs and vision.
  • Focusing projects on the benefits they exist to support, rather than simply on producing a set of deliverables.

Related Articles

Strategy, Tactics and Risk

Current Risk Management Scope

Including Opportunities

So what exactly is Integrated Risk Management today?

At the same time, an organization must apply this “integrated” view across a variety of risk management activities that take on distinct perspectives of risk. For example, a legal department has its own definition of risk and its own series of mitigation plans, but that legal definition of risk varies drastically from the way IT-related risk is being addressed. By integrating these siloed risk constructs under one centralized risk management framework, an organization can view and analyze every risk metric simultaneously.

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