**Author details**

282 Risk Management – Current Issues and Challenges

business critical functions.

controlling risk, and minimizing it.

measures for risk management.

objective.

functional structures of the organization;

the interdependencies of risk within the entity.

objectives independently, without a coordinated approach and without taking into account

Integrated risk management has mechanisms to help the recovery of the organization in the situation of work stoppage, major incident or disaster, by maintaining minimum levels of

The main feature of integrated risk management system is that it integrates risk monitoring mechanisms of the functional departments of the organization and its culture, with a focus on the risks associated with strategic objectives. Also, the emphasis is on monitoring and





making the decision, decision and action unit, clear and optimal fit between

Between components of integrated risk management and objectives of the organization must be a direct relationship. The analysis and risk assessment by following the eight components of integrated risk management, namely internal environment, identification, analysis and risk assessment, risk treatment, risk control, information and communication and monitoring of risks is done for each structure and functional organization for each

By applying this method it is showed that risks are assessed and treated for all purposes of the organization, regardless of their definition (strategic, operational, reporting and

compliance) and regardless of the compartment or structure that are defined.

**7. The advantages of implementing integrated risk management** 

Advantages of an integrated risk management can result as follows:

most advantageous option in conjunction with the profile of risk;

Emilia Vasile and Ion Croitoru *Athenaeum University Bucharest, Romania* 
