According to the UK Corporate Governance Code, where does responsibility for risk

management lie within a firm?


. The IRM Risk Management Standard provides a flow process for risk management.

What is the starting point for this process?


. What are the characteristics of an open and positive risk culture?


 What is the role of internal audit in a three lines of defence model?


. Describe the two main options available to a firm when considering how to position

the risk management function.


. Identify three KRIs likely to be used by an insurer