as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
describe a risk management framework.
user
a risk management framework is a set of components and processes used to identify, assess, monitor, and manage risk, as applicable. it typically consists of identification of risks, risk assessment, risk mitigation and control, risk monitoring, and communication and consultation.
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