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Risk Mitigation Related Links Risk Capabilities Risk Assessment Risk Resources Risk Management Process Risk Management Registration Movie     Risk (risk) — noun "Anything that impedes an organization from achieving its goals." Risk = (probability of event occurring) x (impact of event occurring) Why is Risk Management Important? Corporate Governance requirements by the New York Stock Exchange and the SEC (Security and Exchange Commission), require through the Sarbanes-Oxley Act of 2002 stronger controls over financial reporting. These Corporate Governance are also highly endorsed by the London Stock Exchange. This is not just a US-Centric ideal. This is GLOBAL and in our market, it is very real to you, our Pharmaceutical customers! All publically traded companies MUST have a Risk Management Process, preferably an Enterprise Risk Management Process in place to ensure Stock Holder Value (both creation and preservation). At SAFC Biosciences® we understand there is no one-size-fits-all "shrink-wrapped" solution to Risk Management. Regardless of company, improvements are needed to address the company’s risks in a more comprehensive manner, across silos and with the goal of enhancing the ability to anticipate risk in line with the goals and the culture of the organization. More on Defining ‘Risk’ ‘Enterprise Risk Management’ — Methods by which organizations predict, identify and mitigate circumstances that could be detrimental to the enterprise. ‘Risk Management’ — Structured approach to managing uncertainty related to a threat, a sequence of human activities including: risk assessment, strategies development to manage it, and mitigation of risk using managerial resources. ‘Risk Mitigation’ — Decision Making, Problem Solving, & Strategy and Disaster Planning. ‘Risk Reduction’ — Systematic reduction in the extent of exposure to a risk and/or the likelihood of its occurrence.