You are a senior member of the risk management team in a regulated firm in a sector and jurisdiction of your choice. As part of your role you regularly carry out training with staff from across the business to ensure understanding of how your firm’s risk management process operates and how it is used within different business functions. A new member of staff has recently been recruited into the compliance team and you have been asked to spend some time with them to ensure they too understand the basics of the risk management process.
a) Explain to the new member of compliance staff who has no previous knowledge or experience of risk management practices:
• what the below diagram represents Professional Custom Writing Services from the Experts!
• what its purpose is within the risk management regime, and
• why it is of relevance within a regulated firm.
b) Select two products or services offered by your chosen firm. Using these products or services as the basis, explain to the new member of compliance staff the risk assessment process in place within your firm to help them understand this process. In doing so:
• compare and contrast the two products or services from a risk perspective, and
• briefly explain each stage of the risk assessment process.
(Total 25 marks)
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