Business Risk Assessment

The FCA requirements are that firms must identify and assess the risks inherent in all products, processes and systems. This means that an adequate risk assessment should be undertaken every time you launch a new product, implement any new processes, or change any system.

Once you have completed your inherent risk assessment, appropriate controls will need developing to mitigate your principle risks, and don’t forget ensure that your compliance monitoring arrangements monitor the effectiveness of your key controls.

For further details click here Business Risk