Enterprise Risk Management

3
The BROC shall operationalize a ERM plan which shall be guided by the following:
  • Establish risk profile and determine external and internal factors which can influence the Corporation’s risk profile;
  • Identify and characterize specific threats/ risks;
  • Assess the vulnerability of critical assets to specific threats/ risks;
  • Determine the risks (i.e. expected likelihood and consequences of specific threats/ risks on specific assets;
  • Identify ways on how to minimize said threats/ risks;
  • Prioritize risk reduction measures based on strategy;
  • Implement, monitor and assess effectiveness, conduct reviews and evaluation and make necessary adjustments.