Explanation
Communication with stakeholders, customers, and interested parties is an essential element for maintaining the relevance of enhanced risk management within the structure of a changing context3. Communication helps to establish trust, transparency, accountability, and feedback mechanisms for risk management.

Explanation
The day-to-day responsibility of a Chief Risk Officer within a large organisation is to ensure that all key risks are adequately managed and reported4. This involves overseeing the implementation of risk management policies, processes and systems across the organisation.

Explanation
A risk management professional advises management on the status of key risks by providing insights into the changing characteristics of a risk3. This helps to monitor and review the effectiveness of risk management activities and communicate any changes in risk levels or priorities.

Explanation
Systematic means doing something according to a plan or method. Systematic implies orderliness, consistency, and rigor in applying risk management.

Explanation
A train crash and its consequences is an example of risk aggregation, which is the combined effect of multiple risks on an organisation's objectives3. Risk aggregation can result in losses that are greater than the sum of individual losses.