risk management in IT

5 pts.
Tags:
Risk management
Risk Manager
what is the role of risk manager in IT industry.mean what responsibilites he have?
ASKED: August 27, 2009  6:33 AM
UPDATED: August 29, 2009  3:23 AM

Answer Wiki

Thanks. We'll let you know when a new response is added.

Risk Management Responsibilities

The Risk Manager is responsible to Senior Management for the following functions:

1. To identify and quantify the organization’s exposures to accidental loss.

2. To adopt proper financial protection measures through risk transfer (to outside parties), risk avoidance, and risk retention programs.

3. To develop and update a complete system for recording, monitoring, and communicating the organization’s Risk Management program components and costs to the executive staff and others as necessary.

4. To design master insurance programs and self-insurance programs including the preparation of underwriting specifications.

5. Securing and maintaining adequate insurance coverage at the most reasonable cost.

6. To determine the most cost-effective way to construct, refurbish, or improve the loss protection system of any facility leased, rented, purchased, or constructed by COMPANY.

7. To develop and implement loss prevention/loss retention programs.

8. To actively participate on all contract negotiations involving insurance, indemnity, or other pure risk assumptions or provisions prior to the execution of the contracts. To establish indemnity and insurance standards for standard contract forms.

9. To create and publish guidelines on the handling of all property and liability claims involving the organization.

10. To manage claims for insured and uninsured losses.

11. To comply with local insurance laws.

12. To select and manage insurance brokerage representatives, insurance carriers and other necessary risk management services providers.

13. To establish deductible levels.

14. To allocate insurance premiums.

15. To issue bonds and certificates as necessary.

16. To establish Risk Management policies and procedures

Source: risk analysis center

Discuss This Question: 1  Reply

 
There was an error processing your information. Please try again later.
Thanks. We'll let you know when a new response is added.
Send me notifications when members answer or reply to this question.

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
  • DiegoDH
    And please remember that IT Risk Management is just a component of Business/Corporate RM! Maybe this link (to an e-book) can also be helpful: http://go.techtarget.com/r/9072361/4763620 Regards, Diego.
    275 pointsBadges:
    report

Forgot Password

No problem! Submit your e-mail address below. We'll send you an e-mail containing your password.

Your password has been sent to:

To follow this tag...

There was an error processing your information. Please try again later.

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Thanks! We'll email you when relevant content is added and updated.

Following