MIS is critical component if the institution's overall risk management strategy It supports management's ability to perform such reviews Risk management involves four main elements which are policies or practices operational processes staff and management and feedback device Frequently operational processes and feedback devices are intertwined and cannot easily be viewed separately The most efficient and useable MIS should be both operational and informational As such management can use MIS to measure performance manage resources and help an institution comply with regulatory requirements One exaple of this would be the managing and reporting of loans to insiders MIS can also be used by management to provide feedback on the effectiveness of risk controls Controls are developed to support the proper management of risk through the institution's policies or practices operational processes and the assignment of duties and responsibilites to staff and managers By its nature management information is designed to meet the unique needs of individual institutions As a result MIS requirements ill very depending on the size and complexity of the operations For example systems suitable for community sized institutions will not necessarily be adequate for larger institutions