ERM [16]

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Bullet points include: Is a process for an overall and holistic risk understanding, viewed from the management and/or supervisory body Provides a comprehensive picture of the firm’s risks Gives the supervisor insight into the level of quality of the management’s and Board’s risk  understanding Links the risk picture with the firm’s risk management system and internal control system Captures risks before they are quantifiable Is a process that should include unquantifiable knowledge about risks (so should not focus just on risks that are quantifiable)

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