100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
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
Quickly navigate to
Preview
  2.  
  3. RIMS CRMP
  4.  
  5. RIMS CRMP

Exam (elaborations)

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, ,
 3 views  0 purchase
  • Course
  • RIMS CRMP
  • Institution
  • RIMS CRMP

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, ,

Preview 4 out of 33  pages

Document information

  • September 5, 2024
  • 33
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • rims crmp complete study guide 1 analyze the b

Written for

  • RIMS CRMP
  • RIMS CRMP

Seller

avatar-seller
AGRADEPROMASTER

Reviews received

Content preview

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.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller AGRADEPROMASTER. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

NBME Exam 2023 with correct and complete answers
$12.49
  • (0)
  Add to cart