Implementing Risk Management:: A Study of Major Malaysian Corporations

Ahmed Shukri Yazid; Mohd Rasid Hussin; Matthias Beck

Implementing Risk Management: A Study of Major Malaysian Corporations

Ahmed Shukri Yazid
, Mohd Rasid Hussin
, Matthias Beck

Research output: Chapter in Book/Report/Conference proceeding › Chapter (peer-reviewed) › peer-review

Abstract

This study presents findings from a series of interviews with Risk Managers and/or Chief Risk Officers from major Malaysian companies about the prerequisites for the effective implementation of Risk Management programmes. The interviews highlight the importance of a number of factors, including: a strong commitment from the Board of Directors and Management in general, a desire for an appropriate risk culture, the development of formal Risk Management frameworks and policies, a recognition of the importance of risk communication, the appointment of a Chief Risk Officer (CRO) and the development of a complementary system of internal audit.

Original language	English
Title of host publication	Understanding Risk
Subtitle of host publication	Contributions from the Journal of Risk and Governance
Editors	Matthias Beck
Pages	99-108
Publication status	Published - 2013

Bibliographical note

This is an updated and revised version of an article originally published in the Journal of Risk and Goverance

Keywords

Risk management
Financial risk
Risk
Corporate governance

Cite this

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abstract = "This study presents findings from a series of interviews with Risk Managers and/or Chief Risk Officers from major Malaysian companies about the prerequisites for the effective implementation of Risk Management programmes. The interviews highlight the importance of a number of factors, including: a strong commitment from the Board of Directors and Management in general, a desire for an appropriate risk culture, the development of formal Risk Management frameworks and policies, a recognition of the importance of risk communication, the appointment of a Chief Risk Officer (CRO) and the development of a complementary system of internal audit. ",

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AB - This study presents findings from a series of interviews with Risk Managers and/or Chief Risk Officers from major Malaysian companies about the prerequisites for the effective implementation of Risk Management programmes. The interviews highlight the importance of a number of factors, including: a strong commitment from the Board of Directors and Management in general, a desire for an appropriate risk culture, the development of formal Risk Management frameworks and policies, a recognition of the importance of risk communication, the appointment of a Chief Risk Officer (CRO) and the development of a complementary system of internal audit.

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KW - Risk

KW - Corporate governance

M3 - Chapter (peer-reviewed)

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ER -

Implementing Risk Management: A Study of Major Malaysian Corporations

Abstract

Bibliographical note

Keywords

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Cite this