CISR EORM Lesson 7 Topic A - The Risk
Manager with 100% correct answers
2025
Important skills to have as a risk manager - Correct Answer• Develop and maintain
relationships within the organization
• Create allies and advocates who will further the corporate risk management goals and
functions
• Build a risk management team
• Recognize that everyone within the organization manages risk within his or her own
job responsibilities
Four Key Steps Towards Being an Effective Risk Manager:
Demonstrate a positive financial impact a risk manager can have on the organization -
Correct AnswerAny reduction in the organization's Cost of Risk goes directly to the
bottom-line results and impacts the firm's profit or loss. For example, when a risk control
technique effectively reduces Cost of Risk by $10,000, it has the same result on the
bottom line as selling products or services with a net profit of $10,000. It is just like
having additional sales without the costs associated with those sales.
Four Key Steps Towards Being an Effective Risk Manager:
Work within formal and informal networks inside the organization to ensure the risk
manager is "plugged in" - Correct AnswerRisk managers rely on others within the
organization to be their eyes and ears and to keep them in the loop. The earlier the risk
manager knows about a planned expansion such as new marketing territory, new
service or new product, the sooner the risks associated with such can be identified,
analyzed, financed, etc. It is therefore important for the risk manager to form alliances
and develop relationships with others within the organization.
Four Key Steps Towards Being an Effective Risk Manager:
Communicate risk management results to appropriate levels of management,
employees and stakeholders - Correct AnswerGetting the right message to the right
people is critical to an effective risk management program. The risk manager must know
who needs to know and what they need to know.
Four Key Steps Towards Being an Effective Risk Manager:
Understand a risk manager cannot rest on the merits of past successes - Correct
AnswerRisk managers must recognize that being an expert in the risk management
process is not enough. Risk managers need to be effective managers in their ability to
plan, lead, organize and control the resources of people, money, materials and time.
Risk Manager Technical Demands - Correct AnswerThe risk manager uses technical
expertise to purchase insurance programs, select agent/brokers/insurers, negotiate
Manager with 100% correct answers
2025
Important skills to have as a risk manager - Correct Answer• Develop and maintain
relationships within the organization
• Create allies and advocates who will further the corporate risk management goals and
functions
• Build a risk management team
• Recognize that everyone within the organization manages risk within his or her own
job responsibilities
Four Key Steps Towards Being an Effective Risk Manager:
Demonstrate a positive financial impact a risk manager can have on the organization -
Correct AnswerAny reduction in the organization's Cost of Risk goes directly to the
bottom-line results and impacts the firm's profit or loss. For example, when a risk control
technique effectively reduces Cost of Risk by $10,000, it has the same result on the
bottom line as selling products or services with a net profit of $10,000. It is just like
having additional sales without the costs associated with those sales.
Four Key Steps Towards Being an Effective Risk Manager:
Work within formal and informal networks inside the organization to ensure the risk
manager is "plugged in" - Correct AnswerRisk managers rely on others within the
organization to be their eyes and ears and to keep them in the loop. The earlier the risk
manager knows about a planned expansion such as new marketing territory, new
service or new product, the sooner the risks associated with such can be identified,
analyzed, financed, etc. It is therefore important for the risk manager to form alliances
and develop relationships with others within the organization.
Four Key Steps Towards Being an Effective Risk Manager:
Communicate risk management results to appropriate levels of management,
employees and stakeholders - Correct AnswerGetting the right message to the right
people is critical to an effective risk management program. The risk manager must know
who needs to know and what they need to know.
Four Key Steps Towards Being an Effective Risk Manager:
Understand a risk manager cannot rest on the merits of past successes - Correct
AnswerRisk managers must recognize that being an expert in the risk management
process is not enough. Risk managers need to be effective managers in their ability to
plan, lead, organize and control the resources of people, money, materials and time.
Risk Manager Technical Demands - Correct AnswerThe risk manager uses technical
expertise to purchase insurance programs, select agent/brokers/insurers, negotiate
