- 20 Marks
CSME – Nov 2020 – L2 – Q2 – Risk Management and Corporate Strategy
Recommend a universally accepted risk management framework and discuss its elements and techniques for Global Masters Plc.
Question
Global Masters Plc. is a multinational corporation operating in numerous industries in many jurisdictions. The company had adopted different frameworks for managing risks in different jurisdictions over the years. This had made reporting on risk management difficult.
The board of Global Masters Plc. resolved to harmonise these various frameworks into a framework which has universal acceptance. The board therefore engaged your firm of risk experts to carry out the harmonisation process.
Required:
a. Recommend a universally acceptable framework which is also applicable in the various industries in which Global Masters Plc. operates. Justify your recommendation. (3 Marks)
b. Discuss the elements of the framework. (6 Marks)
c. Discuss the techniques to be adopted in implementing the framework. (11 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: ISO 31000, Risk Architecture, Risk Framework, Risk Strategy
- Level: Level 2
- Topic: Risk Management and Corporate Strategy
- Series: NOV 2020