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By Markus Möller, Director, Kurt Salmon
Introduction
In many organisations, the risk management and finance functions are part of the same finance department, headed by the same CFO. Risk analysis is seldom linked to a company’s overall planning and budgeting process, toward which risk managers often take a hands-off approach. However, there is a clear trend among large corporations to link the corporate budgeting and planning process more closely to the risk management function.
Common framework
Corporate budgeting and planning and risk management have a lot in common. They both rely on a data-based approach, they both aim to facilitate the decision-making process, they...
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