risk management in IT

Risk management
Risk Manager
what is the role of risk manager in IT industry.mean what responsibilites he have?

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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

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  • 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:

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