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Functions of a risk management

The risk management performs certain functions.

Distinguish two types of functions of a risk management:

  • functions of an object of management;
  • functions of the subject of management.

In a risk managemen treats functions of an object of management:

  • organization of permission of risk;
  • organization of risk capital investments;
  • organization of work on decrease in size of risk;
  • organization of process of risks insurance;
  • the organization of the economic relations and communications between subjects of economic process.

In a risk management treat functions of the subject of management:

  • forecasting;
  • organization;
  • regulation;
  • coordination;
  • stimulation;
  • control.

Forecasting in a risk management represents development on the prospect of changes of a financial condition of an object in general and its various parts. Forecasting is an anticipation of a certain event. It does not set a task to directly perform the developed forecasts in practice. Feature of forecasting is also the alternativeness in creation of financial performance and parameters defining different options of development of a financial condition of an object of management on the basis of the outlined trends. In dynamics of risk forecasting can be performed as on the basis of extrapolation of the past in the future taking into account expert evaluation of a trend of change, and on the basis of direct anticipation of changes. These changes can unexpectedly arise. The management on the basis of anticipation of these changes demands development from the manager of a certain intuition of a market mechanism and an intuition and also application of flexible emergency solutions.

The organization in a risk management represents consolidation of the people who are in common implementing the program of risk capital investments on the basis of certain rules and procedures. Treat these rules and procedures: creation of governing bodies, creation of structure of management personnel, establishment of interrelation between managerial divisions, development of regulations, standards, techniques, etc.

Regulation in a risk management represents impact on object of management by means of which the condition of stability of this object in case of a deviation from the set parameters is reached. Regulation covers mainly the current actions for elimination of the arisen deviations.

Coordination in a risk management represents coordination of work of all links of risk management system, management personnel and specialists.

Coordination provides unity of the relations of an object of management, the subject of management, management personnel and certain worker.

Stimulation in a risk management represents motivation of financial managers and other specialists to interest in result of the work.

Control in a risk management represents check of the organization of work on decrease in a risk degree. By means of control information on extent of accomplishment of the planned program of action, profitability of risk capital investments, a ratio of profit and risk on the basis of which changes are made to financial programs, the organization of financial work, the organization of a risk management gathers. Control assumes the analysis of results of actions for decrease in a risk degree.


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