Constantly changing market conditions--new wells, a volatile commodity price environment, the frequent sale and purchase of properties and operations, global scale--means that every company's risk management strategy needs to be flexible.
Business continuity strategies and plans differ from business to business to suit the needs of the individual organisation, however, as a starting point there are a few key elements that should be central to any risk management strategy.
In his new post, Mr Al Bastaki is responsible for ensuring the bank maintains adequate risk management systems, developing and implementing the bank's risk management strategy and advising the management on risk and compliance related issues.
Paiano's duties in his new post with the Hartford, Conn.-based insurer include overseeing risk management strategy for Hartford Financial's life and property/casualty insurance and investment operations.
"Although the e-survey shows that many organizations do not have a formal tax risk management strategy in place, many of them likely will take steps to establish such a strategy, given the enhanced regulatory pressures for greater transparency."
In addition to the blue card, the Act requires that practitioners have a written risk management strategy complying with the minimum requirements of the Commission for Children and Young People Amendment Regulation (No.
SAVVIS Inc (NASDAQ:SVVS), a provider of IT infrastructure services for business applications, has said that easyJet has outsourced its IT infrastructure to underpin its risk management strategy and provide an enhanced customer experience and reduced costs per seat.