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The roles and responsibilities of Risk Managers vary widely. The Risk Manager’s functional areas of responsibility include loss prevention and reduction (clinical and non-clinical), claims management, risk financing, patient safety, and regulatory and accreditation compliance.How do you define risk management?
Essentially, risk management occurs when an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given his investment objectives and risk tolerance.What are the four principles of risk management?
Four principles guide use of Operational Risk Management. Making risk decisions at the appropriate level establishes clear accountability. Those accountable for the success or failure of the mission must be included in the risk decision process. Principle 3 – Accept risk when benefits outweigh the costs.