module 03 course project financial and operational risk
This is the first step in developing a risk assessment and management policy. In developing your policy, consideration of risk appetite is critical. Identify the areas of financial and operational risk at CCH. Prepare a policy on how each area of risk should be handled (i.e assume the risk, mitigate the risk, or transfer the risk).
Prepare a table with the risks that you have identified, level of risk, strategy, and justification for choosing the strategy. You are encouraged to use the balance sheet and income statement as a starting point, but keep in mind there are items not listed on the financials that can also be at risk. For example, the reputation of the company, HIPAA, or key employees. Below is a suggested format but feel free to add additional columns as needed.
|
Risk Area |
Level of Risk |
Strategy (Assume, Mitigate, Transfer) |
|
Cash |
Low |
Assume cash consists of bank deposits federally insured |
|
Vehicles |
Medium |
Assume physical damage, transfer liability risk |
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