Many of the most important decisions made within an organisation relate to risk, because anything that is innovative or competitive or worth doing is likely to be risky. However, risk exists at various levels within an organisation, from top to bottom. As a result the effective organisation needs to be able to communicate about risk between levels in a way that enables it to manage uncerta…
There is no doubt that the new requirements issued in January 2013 by the Basel Committee1 will be a game changer for many financial institutions across the globe. As outlined by the Committee, one of the biggest lessons of the global financial crisis that started in 2007 is the need to radically improve a bank’s data capabilities and architecture in the area of risk management, thus enabling…
Abstract. Treatments of risk in the international management literature largely focus on particular uncertainties to the exclusion of other interrelated uncertainties. This paper develops a framework for categorizing the uncertainties faced by firms operating internationally and outlines both financial and strategic corporate risk management responses.
Business leaders recognise effective risk management as one of the main success drivers for enterprises. Even though the Enterprise Risk Management (ERM) concept has evolved significantly in the past years, in the aftermath of recent economic crises it became evident some of its critical challenges still need to be addressed. The review of subject literature led to a conclusion that current ERM…
Credit risk management in rural and community banks has become more important not only because of the financial crisis that the world is experiencing currently, but also as a crucial concept which determines banks’ survival, growth and profitability. Because credit granting is one of the key sources of income generating activity in rural banks, the management of the risk related to credit…
Banks today are the largest financial institutions around the world, with branches and subsidiaries throughout everyone’s life. However, commercial banks are facing risks when they are operating. Credit risk is one of the most significant risks that banks face, considering that granting credit is one of the main sources of income in commercial banks. Therefore, the management of the risk rela…
Purpose To explore the principles of risk management and the role of insurance within these principles
Modern economies are energy hungry and demand continues to grow inexorably across the globe . This can create enormous opportunities for energy firms, but it also entails significant challenges . Energy organizations face a uniquely broad range of risks across their activities, including project, operational, market, regulatory, environmental, socio-political and reputational risks . Tradition…
Enterprise Risk Management (ERM) has been defined as the discipline by which an organization in any industry assesses, controls, exploits, finances and monitors risks from all sources for the purpose of increasing the organization’s short- and long-term value to its stakeholders. by the Casualty Actuarial Society (2003) and adopted by the Society of Actuaries (2005). Enterprise Risk Mana…