Answer:
Grid formats are useful, listing business units' actual processes (those related to their actual corporate role, like review of loan packages, issuing statements or bills, investment bank funds), the risks (what could go wrong), and the controls used to manage the risk (systemic controls that prevent errors, manual controls like a review and signoff of reports, etc.)
Archive of Risk Management Questions
First published on BankersOnline.com 11/24/08
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