Risk management project at PASI
Risk management is an emerging practice in the Public Authority for Social Insurance (PASI) which we strongly believe should be a continuous and developing process to improve the entity overall performance.
Our approach is based on the Enterprise Risk Management Framework (COSO-ERM Framework). The underlying premise of enterprise risk management is that every entity exists to provide value for its stakeholders. Value is maximized when management sets strategy and objectives to strike an optimal balance between growth and return goals and related risks, and efficiently and effectively deploys resources in pursuit of
ERM considered a core management competency that incorporates a well-structured systematic process to identify business risks and lessen their impact on the PASI. This involves the following core elements:
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