Risk management is embedded in a business strategy and planning cycle. By setting the business and risk strategy, a company is able to determine appropriate capital allocation and target setting for such companies. All business units are required to consider the risk implications of their annual plans.
These plans include analysis of impact of objectives on risk exposure. A group of experts monitored a business performance regularly focusing both on financial performance and risk exposure. The aim is to continue the process of integrating risk management into the planning and management process and to facilitate informed decisions.
Through ongoing review, the links between risk appetite, risk management and strategic planning are embedded in the business so that key decisions are made in the context of the risk appetite for each business unit
