This report provides a comprehensive analysis of risk management in subsidiaries, using a case study of MacVille Pty Limited and its acquisition of Hurley's Café. The report begins with a review of MacVille's existing risk management policies and organizational structure, including the role of the Finance, Audit, and Risk Management (FARM) committee. It then delves into a detailed risk analysis of Hurley's Café, identifying potential risks related to banking practices, managerial travel, and employee behavior. The report examines stakeholders, including the management board, CEO, and employees, and their concerns. It employs PESTEL and SWOT analyses to evaluate the external and internal environments. The research describes the identified risks and proposes a risk management plan, including communication strategies. Finally, the report evaluates the risk management plan's implementation and effectiveness, offering a conclusion and references for further study. This assignment is designed to assess the student's ability to apply risk management principles in a real-world business scenario, demonstrating an understanding of risk identification, assessment, and mitigation within a subsidiary context.