First step in Risk Management is to identify risk. But what is risk?

How do we
define risk? Risk is defined in different ways. Dictionary defines Risk as
uncertainty.
Wikipedia defines risk as the possibility of losing something of value. Risk
Management Books define risk as the possibility of deviation from expected outcome.
So here we see an example of risk! This is the Mumbai Local! A conveyance used by a
majority of Mumbaikars, for daily commute between Home and Office. There is a
possibility of deviation from expected outcome of reaching Home or Office!
Hence there is Risk! It is said that every Banking activity has some inherent risk.
Bankers are said to be in the job of taking risks!