Importance Of Risk Management

1) INTRODUCTION
Meaning of the risk is the chance than can bring to loss or unfavourable effect from the action that have be taken. It is because the uncertainty that will arise in future is unknown. More ambiguity about the success of the action, more greater the risk. Such as, for the farm manager, risk management include maximizing the profit and minimizing the risk. Every decisions that be made is usually not known what will happen in future. Hence, the consequences whether better or worse than what is expected.
The risk also will be a major to know how great the profit, because without risk there will be know about the profit and the ability to manage it. Each decisions will exist the risk that is a payment to get a return. The consequences that will arise only two, whether possibility to loss or opportunity to get profit. But, as a manger they must know how to choose the alternatives to reduce the risk, to make a better decisions. Although, by the alternatives also will reduce the profit. The greater profit, will generate from high risk alternatives.
To manage risk management there have some step that should be followed. First, identify the risk, whether the risk will occur from production , marketing or legal risk. Second, measure the risk, which is the probability of outcome that will occur. Third, assess the risk that be bearing, scan the strategies that will be taken it suitable or not with the person who bear it. Fourth, evaluate the risk by tolerance or preferences, whether to face or avoid the risk based on the revenue in future. Fifth, set the risk management goal, what the outcome that will arise and analysis of objective to be a reality. Sixth, identify the effective tools, difference risk, differ to...

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... Based on our research, in 24 April 2013, Maybank was Wins the Operational Risk Infrastructure Project Award for year 2012 awarded by Asian Banker. We can see that the internal control such as operational risk was implemented in a good ways. There are selection process that was led by a panel of global leaders and subject matter experts, selected the Maybank submission based on the following merits which is a successful aggressive implementation plan that covered all regional locations across the Maybank Group network.
Besides that, the ability of Maybank Group is to create a paradigm shift in the management of operational risk through a system that provides a 360 degree view of incidents in relation to a particular risk. This group also being m innovative use of technology to broaden the depth and breadth of operational risk management within Maybank Group.