in-house), and dedicated staff. Risk software often deployed is from FIS, Kamakura, Murex, and Numerix. Corporate finance In corporate finance and financial management, financial risk management, as above, is concerned more generally with business risk - risks to the business’ value, within the context of its business strategy and capital structure. The scope here - ie in non-financial firms - is thus broadened (re banking) to overlap enterprise risk management, and financial risk management then addresses risks to the firm's overall strategic objectives, incorporating various (all) financial aspects of the exposures and opportunities arising from business decisions, and their link to the firm’s appetite for risk, as well as their impact on share price. In many organizations, risk executives are therefore involved in strategy formulation: "the choice of which risks to undertake through the allocation of its scarce resources is the key tool available to management." Re the standard framework, the discipline largely focuses on operations, i.e. business risk, as outlined. Here, the management is ongoing — see following description — and is coupled with the use of insurance, managing the net-exposure as above: credit risk is usually addressed via provisioning and credit insurance; likewise, where this treatment is deemed appropriate, specifically identified operational risks are also insured. Market risk, in this context, is concerned mainly with changes in commodity prices, interest rates, and foreign exchange rates, and any adverse impact due to these on cash flow and profitability, and hence share price. Correspondingly, the practice here covers two perspectives; these are shared with corporate finance more generally: Both risk management and corporate finance share the goal of enhancing, or at least preserving, firm value. Here, businesses devote much time and effort to (short term) liquidity-, cash flow- and performance monitoring, and Risk Management then also overlaps cash- and treasury management, especially as impacted by capital and funding as above. More specifically re business-operations, management emphasizes their break even dynamics, contribution margin and operating leverage, and the corresponding monitoring and management of revenue, and of other budgetary elements. In larger firms, specialist Risk Analysts complement this work with model-based analytics more broadly; in some cases, employing sophisticated stochastic models, in, for example, financing activity prediction problems, and for risk analysis ahead of a major investment. Firm exposure to long term market (and business) risk is a direct result of previous capital investment decisions. Where applicable here — usually in large