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Business Risk Governance
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[QUOTE="Ramolak19, post: 307247, member: 72962"] Business risk governance refers to the process of identifying, assessing, and managing risks faced by a business. It involves establishing policies and procedures to ensure that risks are identified and addressed appropriately. The goal of business risk governance is to minimize the impact of potential risks on the organization and its operations. This includes identifying internal and external risks, such as financial risks, legal and regulatory risks, and operational risks. Effective business risk governance involves collaboration between different departments and stakeholders, including senior management, legal, compliance, and risk management teams. It also involves regular monitoring and reporting to ensure that risks are being managed effectively and that the organization is prepared to respond to potential threats. By implementing strong business risk governance practices, organizations can mitigate risks, protect their reputation, and ensure long-term success. [/QUOTE]
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