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Essay / Research Paper Abstract
This 10 page paper discusses the way that a risk manager should know and understand the financials of the company they are working for in order to perform their job and achieve their objectives. The paper looks at a range of tools and approaches that a risk manager may use and how both the risk assessment as well as the decisions which are made to reduce or protect the company form risk will influence and be influenced by the financial status and performance of the company. The bibliography cites 15 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TERMfinance.rtf
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Unformatted sample text from the term paper:
types, from operations in manufacturing and service provision to financial risk management in investment and banking. The role has commonalities, in all cases the managers have to assess risk and
then determine what, if any, measures should be used to reduce or mitigate the effects of the risk, as well as monitor the progress. In order to perform their job
and achieve their objectives it is important that they have a good understanding of the organizations finances. Risk assessment is widely used
in private and public sectors and there are different ways that this is being dealt with by way of assessment tools (Brooke, 2000). The different methodologies will reflect the type
of risks being assessed and the importance of each of the risks to the overall operation of the organization (Brooke, 2000). Therefore a system that is only peripheral to the
business will not require as much analysis as the processes or systems that are central to the business operations. In order to undertake this not only does the business need
to be understood, but so do the assets which are held, the revenues and source of revenues and the debt structure, as they all will impact and be impacted by
risks. The tasks of the risk manager start with the way that risks are identified and assessed. There are a number of
tools that can be used. Looking at some of these it can be appreciated why and how knowledge of the underlying finances is an important input into these models. In
using a risk assessment there is not only the need to identify these different factors, but also assess their likelihood of occurring and the impact they may have operations or
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