Risk Management Function
From Open Risk Manual
Revision as of 23:04, 25 November 2020 by Wiki admin (talk | contribs)
Definition
The Risk Management Function is the set of activities within an organization that are addressing Risk Management needs.
Typically (but not necessary, the function is provided by a Risk Management Department.
In regulated sectors where risk management is particularly consequential there may be a regulatory requirement for functional and hierarchy independence from business lines and/or other operation functions. In this case there is talk of Independent Risk Management.
