Professional Documents
Culture Documents
Chapter 6
Chapter 6
Checklists
Interviews and workshops
Escalation or threshold
triggers
Process flow analysis
Audits
Computer software
Facilitated Workshops
n
are internal; Opportunities a
l
and Threats are external SWOT
E
Useful when there is a x
specific goal t
e
OPPORTUNITIES
New technology
THREATS
Shift in customer tastes
r
Ideally concludes with “go”
New distribution
Emergence of
channels
n Unmet customer needs
competitors
organization
CHARACTERISTICS OF A RISK REGISTER
Compliance review
Inspections
Expertise within and beyond
the organization
IDENTIFYING LOSS EXPOSURES
Document Analysis:
Questionnaires and Checklists
Documents produced outside the organization
broadly categorize loss exposures
Questionnaires are more descriptive than checklists
Can be addressed to key property, liability, net
income and some personnel loss exposures
RM or Risk assessment questionnaires have a
broader focus and address insurable and uninsurable
loss exposures
No standardized questionnaires can be expected to
uncover a the loss exposures
IDENTIFYING LOSS EXPOSURES
Document Analysis:
Financial Statements
Identify current loss exposures as well
as future plans that could lead to loss
exposures
Balance Reveals financial risks
Sheet
Balance Sheet
Asset entries indicate property
values that could be reduced by loss
Financial Liabilities indicate liabilities that
Cash Income
could be increased by loss and
Flows
Statements Statement
obligations that must be fulfilled
event when temporarily closed
Income Statement
Identifies loss exposures that reduce
Equity
revenue or increases expenses
Statement of Cash Flow
Identifies amounts of case subject to
a loss or available to meet
continuing obligations
IDENTIFYING LOSS EXPOSURES
accounting resources,
either internal or
external
IDENTIFYING LOSS EXPOSURES
Personal Inspections:
Information gathering
visits to critical sites both
within and outside an
organization
Reveal loss exposures that
would not appear in
written descriptions of
organization’s operations
Conducted by individuals
Picture courtesy of: https://www.transitionsassistedliving.com whose experience and skills
equip them to identify
possible loss exposure
Include discussions with
front-line personnel who
are best place to identify
less obvious loss exposures
IDENTIFYING LOSS EXPOSURES
Expertise Within and
Beyond the Organization:
Interviews with
employees to gather
information about jobs
and departments or
external practitioners
from various fields
Complete hazard
analysis
Obtain more complete Picture courtesy of: https://zeltser.com/experts-overstate-expertise/