Document background
The Risk Assessment and Management Policy is a crucial governance document required for organizations operating in the Philippines to effectively identify, evaluate, and manage various types of risks. This policy becomes necessary when organizations need to establish or update their risk management framework in compliance with Philippine regulations, including the Revised Corporation Code, BSP guidelines, and industry-specific requirements. The document typically includes detailed procedures for risk identification, assessment methodologies, control measures, monitoring processes, and reporting requirements. It's particularly important for organizations seeking to demonstrate sound corporate governance, comply with regulatory requirements, or prepare for audits and regulatory inspections. The policy should be regularly reviewed and updated to reflect changes in the regulatory environment, business context, and emerging risks in the Philippine business landscape.
