Questions for analyzing your corporate risk management system

1.      How comprehensive is your corporate risks database?

2.      How accurate and up-to-date is your corporate risks database?

3.      How comprehensive is your description of each risk?

4.      How adequate is your evaluation of financial consequences of risk realization?

5.      How adequate is your evaluation of operational consequences of risk realization?

6.      How adequate is your evaluation of risk prevention/insurance expenses?

7.      How optimal are your risk prevention/insurance expenses?

8.      How competent are your corporate risk managers?

9.      How efficient is your business process for risk monitoring?

10.  How efficient is your business process for risk prevention?

11.  How efficient is your plan for 'fighting fires'/disaster recovery?

12.  How well does your declared risk management system match the actual one?

How well is your risk management system integrated into your strategic and operational management process?