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And any risk management system which scans the world for the latter is incomplete if it ignores the promise of the latter.
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For instance, one European bank that operates in several countries has implemented a credit risk management system that enables it to use analytics to improve the pricing of its credit products.
The spokesperson said last November the Welsh government published its first National Strategy for Flood and Coastal Erosion Risk Management to develop a flood and coastal erosion risk management system "fit for Wales and flexible enough to adapt to future changes".
But it may be premature to praise the risk-management system to the skies.
This risk-management system apparently proved itself during the crisis in financial markets that followed Russia's default on its sovereign debt last August.
It also boasts of a focus on business niches in which it can secure a top-five position, and a pioneering risk-management system that emphasises the creation of shareholder value, and links employees' remuneration to their value to shareholders.
Then a formal, thought-out system of supervision and risk management is created and applied at every level to ensure execution of the strategy and protection against internal and external threats.
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Establish, document and maintain a system for regularly reviewing the effectiveness of its risk management controls and for promptly addressing any issues.
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To avoid the risk of contaminants being mixed into the recycled plastic, the new recycling system performs quality control based on a chemical substances risk management database developed by Fujitsu Laboratories, thereby ensuring that notebook PCs and other ICT devices comply with legal requirements for chemical components.
Better banking supervision and risk management - all the reforms we talk about endlessly here in the UK to strengthen the financial system - will be one part of making the world a safer place, in rich countries and emerging ones like Brazil.
In the aftermath of 2010 floods, UNESCO has initiated a major project "Strategic Strengthening of Flood Warning and Management Capacity of Pakistan" for upgrading the flood forecasting and early warning system, and for the risk mapping of flood plains along the Indus River, in cooperation with the government of Japan.
And as the financial system begins to pick up the pieces, NYU Stern just completed a timely three-day course called "Integrated Risk Management, " taught by risk expert Ingo Walter, author of Restoring Financial Stability: How to Repair a Failed System.
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