Identifying Key Risk Indicators
Key risk indicators (KRI) act as signals for sound risk management, potentially helping to prevent or prepare for risk exposure.
(1) Please describe KRI.
(2) Identify and describe two key risk indicators that might be implemented to measure the potential for this risk to the organization.
(3) How do these indicators measure this risk, and why are they appropriate for the particular risk identified?
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Use of KRI in Risk Management
Key risk indicators (KRI) act as signals for sound risk management, potentially helping to prevent or prepare for risk exposure. Key Risk Indicators are very important tool of operational risk management that facilitates risk monitoring and control. They are useful for different operational risk management activities and processes such as risk identification, risk control assessments and risk management (Hoffman, 2002).
A key risk indicator (KRI) is a standard of measurement or metric that provides information and tracks exposure about a given operational risk at a particular time in the business. It also ...
The expert examines identifying key risk indicators. The potentials for the risk in organisations are determined.