Within the last decade, Risk Management has become a key activity in the corporate world. The risk per-spective has become a pivotal part of decision making, and most global institutions have built their Risk Management practices to address specific functional areas.
Effective Risk Management not only provides important information for the evaluation of the expected benefits of management decisions, but can also limit the negative impact of economic developments or adverse events on the P&L and value of a company.
Moreover, many relevant guidelines for individual industries, such as IFRS, Basel-II/III, SST, Solvency-II, etc. are, first and last, motivated and inspired by Risk Management concepts.
Briefly, this makes effective Risk Management a critical and central piece in a successful business strategy.
