The Role Of A Risk Manager
Due to the many risks involved while the company is in operation, it is important for the company to single out the role of the risk manager to just managing risks and not involved again in other operation of the company such as in hiring and firing, sales and others. Perhaps, this will allow the risk manager to concentrate on his work of identifying the risk, address them and find the solution towards mitigating the risk. The work concentration will, therefore, help the manager to run the project since the company’s success effectively depends on the management of the risks (Debely & Fragnière, 2007).
Perhaps, am glad Johanna that you understand the impact that a risk can have in a company if it’s not identified and the best way to mitigate them. Ideally, every company operates in the market that is full of risks such as the competitors coming into the market to gain control (Debely & Fragnière, 2007). These risks, therefore, puts the company on the verge of collapsing Mr. Johanna. Therefore, the company must have a better management team to mitigate the risks and to plan for any risk that might occur. For example, a company taking an insurance cover to manage risks like fire and maybe theft cases.
Johanna, I believe the upper management may not have understood the impact of operating a company without the risk assessment. Perhaps, it’s your chance and opportunity to let them learn something about risks and kindly remind the managers of the past mistakes and failure as a result of mismanagement of risks. Probably, you can talk about an immediate risk like financial and operational risks which involves failure of the customers to pay for the goods or services, which will, therefore, affects the cash flow of the company (Debely & Fragnière, 2007).
Debély, J., Dubosson, M., & Fragnière, E. (2007). The travel agent: Delivering more value by becoming an operational risk manager.