Introduction: Operational risk is the risk of loss resulting from ineffective or failed internal processes, people, systems, or external events that can disrupt the flow of business operations. Regulatory projects, especially those with global ambitions are always in part visionary. By this it is meant that abstract possibilities and aspirations for control and order are articulated […]
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Introduction to Financial Risk: There are numerous ways in which financial risk can be defined. The impact of financial risk on the organization commonly, the nature of the cash flows or transactional exposures needs to be understood. The risk is in both the amount involved and its timing. The most obvious way to understand such
Introduction to Risk Assessment: The Risk Assessment is an efficient process to know the nature of risk and determine the level of risk. The risk assessment step aims to develop an understanding of the risk. It provides an input to decisions on whether risk response is necessary and the most appropriate and cost-effective risk response
Introduction to Risk Control: Risk control is the set of methods by which firms evaluate potential losses and take action to reduce or eliminate such threats. It is a technique that utilizes findings from risk assessments, which involve identifying potential risk factors in a company’s operations, such as technical and non-technical aspects of the business,
Introduction to Risk Identification: The purpose of completing a risk identification exercise is to identify, discuss and document the risks facing the institution. Management almost always know what risks the institution is exposed to but they do not always formally record such risks. This necessitated the development of risk identification guidelines to ensure that institutions
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Introduction to Risk Management: The term ‘Risk Management’ is currently being utilized widely within institutions. For example, safety, security, disaster management, business continuity, insurance and internal audit are often referred to as “risk management.” It is certainly true that these functions form part of the wider subject of risk management. But the term ‘risk management’
