What type of risks does a risk assessment team evaluate?

A risk assessment team evaluates a broad spectrum of risks that encompass all aspects of an organization’s operations. This includes operational risks, which are related to internal processes and systems, financial risks that pertain to the organization’s financial health and stability, along with compliance risks that may arise from failing to adhere to laws and regulations.

The holistic approach in evaluating various types of risks is essential, as different categories can often overlap and influence one another. For example, operational risks can lead to financial losses, while the absence of proper adherence to regulations can impact both operational performance and financial viability. By considering all types of risks collectively, the assessment team can provide more comprehensive insights and develop strategies that not only mitigate risks but also enhance overall organizational resilience and performance.