Risk management should be at core of corporate governance

Corporate risk arises at every level in organisations. This can take the form of strategic, managerial, and operational risk. Operational risks occur within the enterprise and can come in the form of fire, accident, theft, and so on.

Managerial risks reflect hazards that could occur from the organisation’s activities: product liability, third party risks for example. Risks at these levels are typically well handled by the enterprise risk management policies and systems.