Document background
The Evaluation Of Risk Management Plan is a critical document required for organizations operating in Saudi Arabia to assess and enhance their risk management capabilities. It is particularly important in the context of Saudi Arabia's evolving regulatory landscape, where organizations must demonstrate robust risk management practices in alignment with SAMA guidelines, CMA regulations, and Vision 2030 requirements. This document is typically prepared when organizations need to validate their risk management framework, during significant organizational changes, as part of regular governance reviews, or when required by regulatory authorities. The evaluation encompasses comprehensive assessment of risk identification methods, control effectiveness, governance structures, and compliance with local regulations, providing actionable recommendations for improvement. It serves as a fundamental tool for boards and senior management to ensure their risk management practices meet both regulatory requirements and business objectives in the Saudi Arabian market.
