Determine and Manage Risk Exposure Strategy

Determine and manage risk
exposure strategy

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Develop an implementation plan ...........................................................................................1
a. Management of implementation strategy................................................................................1
b. Monitoring methods................................................................................................................1
c. Evaluation methods.................................................................................................................2
2. Development of WBS.............................................................................................................2
3. Identify resources which need to take in above section to make identity...............................3
4. Develop procedures for staff members with outline information and requirement for
implementation of strategy..........................................................................................................4
a. Financial plan..........................................................................................................................4
b. Promotional strategies.............................................................................................................4
c. Resource requirement..............................................................................................................5
d. Risk management issues and strategies...................................................................................5
e. Specific actions, initiatives and tasks to be undertaken..........................................................5
f. Staffing/responsibilities requirement and arrangements..........................................................5
g. Time lines................................................................................................................................5
h. Communication strategy.........................................................................................................7
5. Presentation to staff members.................................................................................................7
6. Outline, monitor and evaluate implementation of risk management strategy at workplace...7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Strategy for risk management consider important perspective for Common Wealth Bank
in Australia. In this consideration, plan can be successfully implement with including appropriate
strategy, monitoring methods and evaluation methods (Modarres, 2016). Furthermore, it includes
project management requirement, assessing project risk and resource management as well.
MAIN BODY
1. Develop an implementation plan
In Common wealth bank, implementation plan consider important perspective that assists
to consider successful risk management strategy. It also protects and helpful to reduce risk and
increase insurance to people (Chorafas, 2016).
a. Management of implementation strategy
In Common Wealth Bank, it is important to consider successful operations and functions
that can helps to mitigate risk of data breach. Company also undertake review with compliance
and maintain security standards because failure aspects has been found and results will be gain in
form of a penalty (Hopkin, 2018). However, different factors create impact on insurance services
so that cybersecurity also need to maintained in Australia. As a result, communicate for this type
of strategy must be placed with customers and intermediaries because understanding this strategy
will assist to overcome from risk. With respect to manage this risk management strategy at
personal level, manager need to concentrate on digital technology and complying security
standards. It can be successfully take place with digital data security that can breach entire
payment network system.
b. Monitoring methods
In order to monitoring on implementation of strategy, there are several methods can be
established. They are as follows: Risk assessment: Risk assessment strategy involve identifying new risk and evaluation of
current risk (Stulz, 2015). This is because, evaluation of risk management process
ascertained to focus on closing risks exists in Common Wealth Bank. Risk audit: Project team of Common Wealth Bank need to defined risk responses so that
managers facilitate risk audit to examine effectiveness of risk response. In order to
1