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