concerned with the protection of the assets and profits of an organosation by either reducing the potential before it occurs, mitigating the impact of a loss if it occurs, and the execution of a swift recovery after a loss occurs; financial risk management is the term often used by non-financial institution to describe the mitigation process for their financial exposure; erm on the other hand, is said to represent a revolutionary change in the risk management discipline that broadens the scope of risk management behaviors.