http://riskviews.wordpress.com/2012/07/22/risk-language-needs-to-be-learned-by-the-risk-officer/ Commentary on Risk and ERM Fri, 03 May 2013 02:55:57 +0000 hourly 1 http://wordpress.com/ http://riskviews.wordpress.com/2012/07/22/risk-language-needs-to-be-learned-by-the-risk-officer/comment-page-1/#comment-9036 Wed, 25 Jul 2012 12:49:49 +0000 http://riskviews.wordpress.com/?p=3713#comment-9036 I agree with Riskviews comments but would add that companies that ignore external definitions send a negative message to outside providers of oversight like auditors, rating agencies and regulators that the firm is behind the curve when it comes to managing risk. You should know when your definitions vary within a firm as well as with external discussions, consciously making a decision to continue, change, or educate.

]]> http://riskviews.wordpress.com/2012/07/22/risk-language-needs-to-be-learned-by-the-risk-officer/comment-page-1/#comment-9003 Mon, 23 Jul 2012 12:29:48 +0000 http://riskviews.wordpress.com/?p=3713#comment-9003 Excellent observation and point that the risk manager should facilitate the organization’s risk language not mandate it. However, I have to disagree on the idea that various units can operate under different risk definitions. That is a recipe for disaster when the organization has to pull together. Everyone has to be on the same page and using the same common language.

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