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RIMS - CRMP COMPLETE STUDY GUIDE; 1 ANALYZE THE BUSINESS MODEL, 2 DEVELOPING ORGANIZATIONAL RISK STRATEGIES, 3 RIMS CRMP-IMPLEMENTING THE RISK PROCESS, 4 DEVELOPING ORGANIZATIONAL RISK MANAGEMENT COMPETENCY, 5 SUPPORTING DECISION MAKING, , $12.49   Add to cart
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RIMS - CRMP COMPLETE STUDY GUIDE; 1 ANALYZE THE BUSINESS MODEL, 2 DEVELOPING ORGANIZATIONAL RISK STRATEGIES, 3 RIMS CRMP-IMPLEMENTING THE RISK PROCESS, 4 DEVELOPING ORGANIZATIONAL RISK MANAGEMENT COMPETENCY, 5 SUPPORTING DECISION MAKING, ,
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RIMS - CRMP COMPLETE STUDY GUIDE; 1 ANALYZE THE BUSINESS MODEL, 2 DEVELOPING ORGANIZATIONAL RISK STRATEGIES, 3 RIMS CRMP-IMPLEMENTING THE RISK PROCESS, 4 DEVELOPING ORGANIZATIONAL RISK MANAGEMENT COMPETENCY, 5 SUPPORTING DECISION MAKING, ,

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  • September 5, 2024
  • 33
  • 2024/2025
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  • rims crmp complete study guide 1 analyze the b

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RIMS - CRMP COMPLETE STUDY
GUIDE; 1 ANALYZE THE BUSINESS
MODEL, 2 DEVELOPING
ORGANIZATIONAL RISK STRATEGIES, 3
RIMS CRMP-IMPLEMENTING THE RISK
PROCESS, 4 DEVELOPING
ORGANIZATIONAL RISK MANAGEMENT
COMPETENCY, 5 SUPPORTING
DECISION MAKING, ,


Riskst-tans✔✔Theteffecttoftuncertaintytontobjectives
Thetchancetoftsomethingthappeningtthattwillthavetantimpacttontobjectives
Beingtpreparedtfortthetworsttandtbeingtpoisedttotexploittopportunitiestasttheytaretdiscovere
d

EnterprisetRisktManagementt-
tans✔✔Atstrategictbusinesstdisciplinetthattsupportstthetachievementtoftantorganization'sto

bjectivestbytaddressingtthetfulltspectrumtoftitstriskstandtmanagingtthetcombinedtimpacttoftth
osetriskstastantinterrelatedtrisktportfolio.

SupporttFunction:tBusinesstcontinuitytandtcrisistmanagementt-
tans✔✔Risktidentification, tassessmenttandtcreationtoftemergencytresponsetandtrecoveryt

planstrelatedttotthreatstorthazardstthattmighttleadttotoperationaltdisruptions

Analysist-
tans✔✔Atsystematictexaminationtandtevaluationtoftdatatortinformationtbytbreakingtittintotitst

componenttpartsttotuncoverttheirtrelationships.tAntexaminationtoftdatatandtfactsttotuncovert
andtunderstandtcause-
effecttrelationships,tthustprovidingtbasistfortproblemtsolvingtandtdecisiontmaking.

Totembedtrisktmanagementtintbothtroutinetandtstrategictdecision,twhattshouldtmanagerstb
etablettotrecognize?t-

,ans✔✔Thettypetoftdecisiontbeingtmade;tWhotshouldtbetincludedtintthetdecisiontmakingtpr
t

ocess;tWheretintthetprocesstdecisionstaretbeingtmade

Risktmanagementtstrategies'tgeneraltfocust-
tans✔✔Meetingtortexceedingtantorganization'stobjectives

Adheringttotcontrol-basedtobjectives,trulestand/ortcontrols
Complyingtwithtregulatorytrequirements

SupporttFunction:tInternaltAuditt-
tans✔✔Risktidentification, tassessmenttandttreatmenttthroughtaudittplanstwithtfocustontfrau

d,tcorruption,tregulatorytnoncompliancetand/
ortmisrepresentationtrelatedttotthetorganization'stinternaltcontroltsystems,tfinancialtoperati
ons,tfinancialtstatementstandtreportingtastwelltastenterprisetrisktandtthetorganization'striskt
managementtframeworktandtprocess.

Whattstepstcantthetrisktmanagementtprofessionalttakettotembedtrisktmanagementtintdecisi
ontmaking?t-tans✔✔Includetrisktassessmenttintplanningtprocess;tLeveragetcross-
functionaltrisktassessmenttteamtandtsubjecttmattertexpertsttotidentifytenterprisetrisks;tCon
sidertcascadingtandtcumulativeteffects

GaptAnalysist-
tans✔✔Techniquetthattcantbetusedttotdeterminetwhattstepstmighttneedttotbettakenttotimpro

vetthetorganization'stcapacityttotmovetfromtatcurrenttstatettotatdesiredtfuturetstate.

Risktappetitet-
tans✔✔Thettotaltexposedtamounttthattantorganizationtwishesttotundertaketontthetbasistoftri

sk-returnttrade-offstfortonetortmoretdesiretandtexpectedtoutcomes.

CommunicationtandtConsultationt-
tans✔✔Risktmanagementtprofessional'stroletintImplementingtRisktStrategies



SupporttFunction:tLegalt-
tans✔✔Risktidentification, tassessmenttandttreatmenttoftriskstrelatedttotthetobligationtantor

ganizationtundertakestandttransferstthroughtcontracting,tastwelltastitstcompliancetwithtappl
icabletlawstandtregulatorytobligations.

Whattaretthettypicaltfailurestintrisktmanagementtwhichtcantbetavoidedtiftittistembeddedtintth
etdecisiontmakingtprocess?t-
tans✔✔Programtnottintegratedtintotstrategytortitstexecution;tFocusedtontthetwrongtrisks;tN

ottexecutedtintatrepeatabletprocess;tRisktmanagementtistpracticedtintatsilo;tActivitytnottvie
wedtastbeingtvaluetadded

StrategictPlant-
tans✔✔Determinestthattactionstthetorganizationtwillttaketattanytstagetoftthetplanningtperiod

tastcircumstancestchange.

,Risktownert-
tans✔✔Thetindividualtwhotistultimatelytaccountabletfortensuringtthattrisktistmanagedtappro

priately,tincludingtthetimplementationtoftselectedtresponses.

RisktIdentificationtProcesst-tans✔✔Finding,tRecognizingtandtRecordingtRisks

SupporttFunction:tCompliancet-
tans✔✔Risktidentification, tassessmenttandttreatmenttoftrisktrelatedttotregulationstthattmayt

affecttthetorganization'stabilityttotoperatetintitstrespectivetjurisdictions,tastwelltastactivitiestt
hattfalltwithintitstcompliancetandtethicstprograms.

Totsuccessfullytintegratetrisktmanagementtintotdecisiontmaking,trisktmanagementtprofessi
onalstwilltrelytontstrategiestthattdrawtontpersonaltandttechnicaltskillstint-
tans✔✔Buildingtorganizationaltawareness;t.tDifferentiatingtthetdifferentttypestoftdecisionst

usedtintvaryingtsituationstusingtelementstoftdecisiontquality;tPerformingtvarioustrolestintthet
takingtrisktintotaccounttintdecision-makingtprocess

Strategyt-
tans✔✔Atcompletetplantoftactiontfortwhatevertsituationstmighttarisetintachievingtantorganiz

ation'stgoalstwithintthetestablishedttime.

Riskttolerancet-
tans✔✔Thetamounttoftuncertaintytantorganizationtistpreparedttotaccepttinttotaltortmoretnarr

owlytwithintatcertaintbusinesstunit,tatparticulartrisktcategorytortfortatspecifictinitiative.

StrategictRisktManagementt-
tans✔✔Atbusinesstdisciplinetthattdrivestdeliberationtandtactiontregardingtuncertaintiestand

tuntappedtopportunitiestthattaffecttantorganization'ststrategytandtstrategictexecution.



ValuetChaint-
tans✔✔Thetseriestoftfunctions,tprocesses,tmaterialstandtactivitiest(inputs)tfromtconceptttott

heteventualtendtusertthattcreatestandtbuildstvaluetatteverytsteptintorderttotdelivertatproductt
ortservice.

Totbuildtorganizationaltawareness,tthetrisktmanagementtprofessionaltneedsttotdotthetfollo
wing:t-
tans✔✔Betatpersuasivetcommunicatortandtfacilitator;tHavetatcleartcommunicationtplan;tEn

gagetinterestedtparties,tincludingtprimarytandtsecondarytaudiences;tDemonstratetthattriskt
managementtcreatestthetmosttvaluet;tDeveloptfeedbacktloopstfortcontinuoustlearning

RisktAnalysist-
tans✔✔Thetprocesstoftcharacterizingtandtunderstandingtthetnaturetoftrisktandtoftconsideri

ngtthetleveltoftrisktintthetcontexttoftthetorganization'stwillingnessttotaccepttrisk.

, SupporttFunction:tSafetyt-
tans✔✔Risktidentification, tassessmenttandttreatmenttoftriskstfocusedtontpreservingtthetph

ysicaltwell-beingtoftemployeestandtthirdtparties.

Likelihood,tConsequences,tothertcriteriatsuchtasttiming,tduration,tvulnerabilitytandtinterdep
endenciest-tans✔✔Risktisttypicallytanalyzedtontthetbasistof

SupporttFunction:tInformationtSecurityt-
tans✔✔RisktIdentification,tassessmenttandttreatmenttoftrisktarisingtourtoftortaffectingtinfor

mationtandttechnologytinfrastructure.

Totbuildtorganizationaltawareness,trisktmanagementtcreatestthetmosttvaluetwhent-
tans✔✔RisktmanagementtAlignstwithtstrategictgoals;tTakestcorporatetculturetintotaccount;

tInvolvestkeytenterprisetfunctions



FinancialtStatementst-
tans✔✔Internaltsourcetoftinformationtthattincludestfinancialtanalyticstortprojections



strategictplanningtteamt-
tans✔✔Thetrisktmanagertshouldtbetatparttoftthet_______________________ ttotprovidetth

etstructuretdisciplinetfortconsiderationtoftriskstintatstrategictportfolio.

InternaltAudittReportst-
tans✔✔Internaltsourcetoftinformationtthattfocusestontbusinesstpracticestimportantttotthetgo

alstandtreflectiontoftregulatorytenvironmenttoftthetorganization

risktmanagementt-
tans✔✔__________________ tshouldtbetantagendatitemtatteverytstrategytsession.



SupporttFunction:tFacilitiest-
tans✔✔Risktidentification, tassessmenttandttreatmenttoftthetorganization'stproperties,tequi

pmenttandtphysicaltinfrastructuretsystems.

Simpletandtfrequentt-
tans✔✔Attypetoftdecisiontthattaretautomatic,ttakentintthetmoment.tThesetdecisionstgeneral

lytrelytontthetknowledgetandtcapabilitytoftthetdecisiontmakertusingtthetback-of-the-
napkinttechnique.

Bowttietanalysist-tans✔✔hazardtanalysisttechniquet(causetandtconsequence)

Businesstimpacttanalysist-
tans✔✔considertbusinesstimpactstattatlocationtortfromtatspecifictprocess



SupporttFunctions:tQualityt-
tans✔✔Risktidentification, tassessmenttandttreatmenttoftriskstrelatedttotproductstandtservic

es.

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