Element 06×Finance and Legal
Finance & Legal in Hazard ID & Risk Assessment
Hazard identification and risk assessment
Why 4 of these documents sit here
Hazard identification and risk assessment is one method applied to many kinds of risk. Enterprise, financial, credit, cyber, financial-crime and personal-security risks follow the same logic: identify, assess, control, review. They belong in the same risk framework so the board sees one risk picture rather than several that are never compared.
Integrated reading of element 06 →Example documents, by tier
Policy 1
- Counterparty Credit Risk PolicyIntegrated readingIn 1 of 3 operator registersCompany-wideAlso in IOGP 510 · 05 Risk Assessment and ControlNot process safetyNot safety case critical
Standard 1
- Enterprise Risk Management StandardIn 2 of 3 operator registersCompany-wideAlso in IOGP 510 · 05 Risk Assessment and ControlNot process safetyNot safety case critical
Process, procedure, work instruction 1
- Risk Management for Financial ReportingIntegrated readingIn 1 of 3 operator registersCompany-wideAlso in IOGP 510 · 05 Risk Assessment and ControlNot process safetyNot safety case critical
Guidance · outside the system 2
Informative, not a “shall”. These belong in the knowledge base, not the management system. How this works →
- Guidance on Financial Crime RisksIntegrated readingIn 1 of 3 operator registersCompany-wideAlso in IOGP 510 · 05 Risk Assessment and ControlNot process safetyNot safety case critical
- Enterprise Risk Assessment of a Business CaseIntegrated readingIn 1 of 3 operator registersCompany-wideAlso in IOGP 510 · 05 Risk Assessment and ControlNot process safetyNot safety case critical