| Summary: | The corporate risk management is an imperative necessity of the organizations, as the competitiveness and the current macroeconomic environment make them assume and increasingly face the risks while running their businesses. The way how organizations organize themselves differs from company to company, although all of them consider this an important issue. Taking into account the changing and uncertain environment that companies face nowadays, risk management is a key area for the success of any organization. So, the purpose of this study is to provide a literature review regarding risk and risk management, the main risk standards (ISO 31000, FERMA and COSO-ERM) and an analysis of few empirical studies concerning risk management. Furthermore, it will be presented a case study where the author will analyze the credit risk management process and risk control systems of a particular company. This study was made on a multinational Danish company called Danfoss. It will be made a particular analysis to a branch office in Brazil. The methodology used by author was qualitative, by conducting an interview with the Financial Manager of Danfoss Brazil, collecting internal data and information and using the knowledge and experience of the author on the risk management process of the company. The interview allowed us to understand which factors and indicators company use to decide the limit of credit granting and its management control systems and check its effectiveness.
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