It is essential for any business to have a procedure that effectively manages assets and risks. This is especially true in the financial sector, where insurers invest the premiums they receive from policyholders in assets to generate revenue and maintain the financial viability of their business. Assets can be volatile, and it is essential that investors take care of their investments. This means knowing when to take on risk or take a lower risk in order to achieve their goals.
A well-designed asset and risk management program is essential for energy and resource companies to protect assets and maximize ROI over the course of their lifetime. This involves identifying and taking into account the risks associated with the assets of an organization, including physical assets like equipment and buildings, and intangibles, such as intellectual property and data.
First, a business must identify and identify its assets. Ideally, each named asset should have a person in the organization that has the responsibility and authority over it. They are aware of the risks associated with their assets and mitigate those risks effectively. These stakeholders should be consulted with the risk management department to evaluate the possibility of threats and vulnerabilities.
From there, businesses must prioritize the risks that are identified. This is usually done in relation to the likelihood of the risk occurring and its impact on the business. The highest priority risks need the greatest security implementation, investment and attention. Other risks must be addressed as required with consideration of the business’s operational needs and regulatory compliance.
https://expertalmanagement.de/2020/12/26/vermogensverwaltung/