risk management

UCL Certificate in Risk Management Chapter 1 Assignment 1 1. Define and explain the terms risk and risk management. (10 Marks) 2. What is a risk management framework and why it should be linked to other business processes? (10 Marks) 3. When developing a risk management framework, what key questions need to be answered. Discuss in detail. (10 Marks) 4. Why is it important to document a risk management framework and what needs to be documented? (10 Marks) 5. Outline and discuss the key components of risk management strategy and policy document. (10 Marks) 6. List and explain key factors to consider when developing a risk management governance structure. (10 Marks) 7. 'A key component of effective risk management governance is to establish clear lines of risk and risk management accountability'. Explain the roles and responsibilities of various parties in a sample risk governance structure. (10 Marks)