Operational Risk Management - 2610 Words

CORPORATE RISK MANAGEMENT ASSIGNMENT OPERATIONAL RISK MANAGEMENT (ORM) IN BANKS Risk is inherent in any walk of life in general and in financial sectors in particular. Till recently, due to regulated environment, banks could not afford to take risks. But of late, banks are exposed to same competition and hence are compelled to encounter various types of financial and non-financial risks. Risks and uncertainties form an integral part of banking which by nature entails taking risks. There are three main categories of risks; Credit Risk, Market Risk amp; Operational Risk. OPERATIONAL RISK Always banks live with the risks arising out of human error, financial fraud and natural disasters. The happenings such as WTC tragedy, Barings†¦show more content†¦* Clients, products and business practices - For example, fiduciary breaches, misuse of confidential customer information, improper trading activities on the bank’s account, money laundering, and sale of unauthorized products. * Damage to physical assets - For example, terrorism, vandalism, earthquakes, fires and floods. * Business disruption and system failures - For example, hardware and software failures, telecommunication problems, and utility outages. * Execution, delivery and process management - For example: data entry errors, collateral management failures, incomplete legal documentation, and unauthorized access given to client accounts, non-client counterparty mis-performance, and vendor disputes. Relevance of Operational risk function Growing number of high-profile operational loss events worldwide have led banks and supervisors to increasingly view operational risk management as an integral part of risk management activity. Management of specific operational risks is not a new practice; it has always been important for banks to try to prevent fraud, maintain the integrity of internal controls, and reduce errors in transaction processing, and so on. However, what is relatively new is the view that operational risk management is a comprehensiveShow MoreRelatedOperational Risk Management50825 Words   |  204 Pages≈√ F M A G u i d e l i n e s on Operational Risk Management These guidelines were prepared by the Oesterreichische Nationalbank in cooperation with the Financial Market Authority Published by: Oesterreichische Nationalbank (OeNB) Otto-Wagner-Platz 3, 1090 Vienna, Austria Austrian Financial Market Authority (FMA) Praterstraße 23, 1020 Vienna, Austria Produced by: Oesterreichische Nationalbank Editor in chief: Gà ¼nther Thonabauer, Communications Division (OeNB) Barbara Nà ¶sslingerRead MoreOperational Risk Management2081 Words   |  9 PagesOperational Risk Management Operational Risk Management, otherwise known as ORM, is defined as a continual recurring process which includes risk assessment, risk decision making, and execution of risk controls, which results in acceptance, mitigation, or avoidance of risk. It is the oversight of operation risk, which is a risk arising from execution of a company’s business functions. It is a very wide concept which focuses on the risks arising from the people, systems and processes through whichRead MoreWhat Is Operational Risk Management, Kri And Kpi?1548 Words   |  7 PagesIntroduction 1.1 What is operational risk management, KRI and KPI? Operational risk is the risk of loss resulting from inadequate or failed internal processes, people, systems or external events where strategic, systemic and reputation risk are not included. KRI KPI: Definition of KRI - â€Å"It is a metric for measuring the likelihood that the combined probability of an event and its consequences will exceed the organization’s risk appetite and have a very negative impact on an organizations abilityRead MoreOperational Risk Management in Banking Sector: an Overview2324 Words   |  10 Pages Volume : 3 | Issue : 1 | January 2013 | ISSN - 2249-555X Operational Risk Management in Banking Sector: An overview Keywords Rakesh Chutia Assistant, State Bank of India Margheita-786181 Dist.-Tinsukia Assam ABSTRACT Operational risk is inherent in all banking products, activities and processes and systems and the effective management of operational risk is of paramount importance for every bank’s board and senior management. With globalization and deregulation of financial markets, increasedRead MoreScenario Analysis for Basel Ii Operational Risk Management2572 Words   |  11 PagesBASEL II OPERATIONAL RISK MANAGEMENT 1 Introduction: Scenario Analysis for Potential Catastrophic Losses 1 2 Addressing Operational Risk 3 3 Scenario Analysis in a Risk Measurement Framework 5 4 Scenario Analysis in a Risk Management Framework 6 5 Achieving Risk Measurement and Management 6 6 Conclusion: Benefiting from Scenario Analysis 7 1 Introduction: Scenario Analysis for Potential Catastrophic Losses â€Å"Are you saying that you want us to figure out how to lose R50 million?† asked the risk managerRead MoreThe Department Of Defense s Operational Risk Management Essay1590 Words   |  7 PagesFurthermore, it will look what types a factors should be looked at when making an organizations plans. In addition, this paper will look at mitigating risks, specifically cyber and physical risk mitigation and some of the different approaches risks can be mitigated. Finally, this paper will briefly look at the Department of Defense’s Operational Risk Management process and how it ties planning and mitigation together. Planning Continuity of Operations Continuity of Operations (COOP) is an effort withinRead MoreMarketing Management : Strategic And Operational Risks727 Words   |  3 PagesMarketing management consists in distributing resources in order to produce net present value to shareholders among an environment of market-product investment involving risks. A. Rappaport, 1981). As a result, a marketing strategy is defined as the method on how the organization’s resources are put at risk seeking to get competitive advantages (V. Cook, 1983). Marketing risks are present in all the aspects of the marketing plan. We can identify five main areas of risks listed below: - StrategicRead MoreOperational Risk Management in Foreign Exchange Dealing710 Words   |  3 PagesOperational Risk Management in Foreign Exchange Dealing Abstract This paper discusses operational risk management in foreign exchange dealing for commercial banks in Tanzania. The paper further defines the problem and showing evidence that the problem is still in existence and outlines areas that require further researches from other literatures with the same research problem. It outlines the questions to be used in the research and shows the relevance of the study and its significance to commercialRead MoreCapital Adequacy and Risk Management in Banks1498 Words   |  6 PagesADEQUACY FRAMEWORK AND RISK MANAGEMENT IN BANKS GUEST LECTURE: MR. R M PATTANAIK EX GM- INDIAN OVERSEAS BANK CAPITAL ADEQUACY RATIO  (CAR) Also known as  Capital to Risk (Weighted) Assets Ratio  (CRAR)  is the  ratio  of a  bank’s capital  to its  risk.   National regulators track a banks CAR to ensure that it can absorb a reasonable amount of loss and complies with statutory capital requirements. It is a measure of a banks capital. It is expressed as a percentage of a banks risk weighted credit exposuresRead MoreWells Fargo Risk Management Paper1418 Words   |  6 PagesWells Fargo Risk Management â€Å"Risk comes from not knowing what you’re doing.†Ã¢â‚¬â€Warren Buffet 2014 Jovan Gonzalez University of Texas at San Antonio 2/11/2014 Wells Fargo Risk Management â€Å"Risk comes from not knowing what you’re doing.†Ã¢â‚¬â€Warren Buffet 2014 Jovan Gonzalez University of Texas at San Antonio 2/11/2014 Overview When it comes to managing key risks that financial institutions face such as, credit risk, asset/liability interest rate and market risks, Wells Fargo Board

Using Diversity and Inclusion to Provide Better Service

BUSI 3312: Organizational Behavior Case Study (10%): Using Diversity and Inclusion to Provide Better Service Name: Mona Al Hilal Instructor: Dr. Beverley McNally Submission Date: April 7, 2013 Table of Contents Introduction 2 Question 1: Describe what is meant by diversity and equality. 3 Question 2: Explain which groups are particularly covered by equality laws. 4 Question 3: Analyze Tesco’s diversity strategy, explaining why it is important to the workforce, the customers and the business. 5 Question 4: Describe the different network groups and organizations that Tesco support. Evaluate why each is of importance in helping the business be more competitive than its rivals. 6 Conclusion 8 Introduction†¦show more content†¦Its strategy that ensures that â€Å"everyone is welcome† encourages people to reach their potentials and to be more productive which is beneficial for the workforce and the business itself. Besides, Tesco deals a lot with charity and charity organization. It has launched many projects and programs as a charity to support different groups of people. For example, it sponsors a five-year project that empowers young wheelchair users or people with disabilities. It provides training for disabled people that help them to be more prepared to the workforce by improving their skills as well as helping them to be more confident and independent. At a workforce level, it encourages employees’ development and hardworking. It also ensures that workers can fulfill their potential. At a customer level, a diverse workforce reflects the real society as well as the customer base and this means a better understanding to customers’ needs and desires. At a business level, diversity strategy brings a broad range of skills, talents, experiences, and knowledge to the organization in order to deliver the best services, increase the productivity and reduce the waste. Question 4: Describe the different network groups and organizations that Tesco support. Evaluate why each is of importance in helping the business be more competitive than its rivals. Tesco has created a number of networks to engage more with all its staff and workers. It has fourShow MoreRelatedDiversity: Discrimination and Service Users1535 Words   |  7 Pagesto champion diversity, equality and inclusion 2.1 Promote equality, diversity and inclusion in policy and practice It is your role and responsibility to ensure that all staff promote equality, diversity and inclusion, whether dealing with service users directly or indirectly. This can be done in the following ways: Dignity and respect – respect individual’s need for privacy and dignity in the way that service is provided and the way that information is handled. Treat service users with toleranceRead MorePromote Equality and Inclusion in Health, Social Care or Children’s and Young People’s1094 Words   |  5 PagesPromote Equality and inclusion in Health, Social care or Children’s and Young People’s Settings (SHC33) Outcome 1 : Understand the importance of diversity. Equality and inclusion 1. Explain what is meant by: Diveristy, Equality and Inclusion †¢ Diversity is about acknowledging your prejudices, allowing people to be different and respecting these differences. It is also about challenging others if necessary and speaking up for the individuals you support when they cannot speak up forRead MoreEquality Diversity Inclusion1538 Words   |  7 Pagessections of the community equal access to employment, education and other services that are provided whilst valuing and respecting them. Recognising that different sections of the community require specific measures to make sure they receive equality. Recognising how and why some groups are underrepresented and knowing what to do about it. Taking positive action to assist individuals where this is appropriate. Diversity Diversity means to have a variety of people from all minority groups representedRead MoreUnit 503 Qcf 5 Essay1501 Words   |  7 Pages503 CHAMPION EQUALITY, DIVERSITY AND INCLUSION In my role as senior I am responsible for ensuring that all individuals, their families, friends, carers and members of staff and those I work with (ty mawr) in partnership, are treated equally. Everyone should be treated with dignity and respect. There are many legislations, Codes of practice which ty mawr follow. The workplace policies which regulate equality diversity and inclusion with each area of responsibility. Below is a list of actsRead MoreEssay on External and Internal Factors: atT1390 Words   |  6 Pagesmanagement still have to be carried out. The major five factors that affect the functions of management are globalization, technology, innovation, diversity, and ethics. However, managers can still use delegation to impact the factors of management. ATT (American Telephone Telegraph) is the largest supplier globally of telephone, wireless, and internet services. ATT started in 1983 as Southwestern Bell Corporation (SBC) and the main center was in St. Louis, Missouri. Southwestern Bell moved theirRead MoreEqual Pay Act 1970 : Equality And Diversity963 Words   |  4 PagesEquality To me this means treating everyone with respect and fairness whilst recognising their individual needs. Diversity Recognising, valuing and acknowledging difference and similarity. Inclusion Providing opportunities to everyone, in its simplest term it is the ‘state of being included’. The Equality act 2010 replaced nine primary legislations and over 100 bits of secondary legislation to make it simpler to understand and ensure that everyone is treated fairly and brings together a numberRead MoreWalmart : Competitive Advantage, Management, Recruitment, And Selection, Compensation1234 Words   |  5 Pagesan idea of giving customers low prices and has grown into the largest retailer in the last 50 years. Their ability to remain relevant and innovative has insured their success. Walmart uses strategies in competitive advantage, change management, diversity management, recruitment and selection, compensation and benefits, and organizational climate to remain the leading retailer in over 28 different countries. These strategies ensure that their consumers continue to walk through their doors; theirRead MoreSpecial Students With Disabilities And Culturally Diverse Needs862 Words   |  4 Pages â€Å"People of goodwill built the system we have today. People of good will can work together to build a better system going forward† (Freedman, 2012). Special educators face many ethical and moral challenges everyday. There are three areas challenge a special educators morals and ethics: inclusion, serving students with disabilities and culturally diverse needs, and access to grade appropriate general education curriculum for students with severe intellectual disabilities. Before discussing the presentRead MoreGoogle Paper1449 Words   |  6 Pagesand weakness that displays their success or downfall. The internal factors reveal the company’s strength on how well it can meet their goals. The internal factors of an industry are factors of good or poor planning because it exposes their ethics, diversity, globalization, and so forth. On the other hand, the external factors may involve with their outside competition, social legal, technology changes, political, and economic environment. The external factors show their duties to the society, and theRead MoreTaking a Look at the Hyatt Hotel Group1769 Words   |  7 Pagestherefo re a significant number of positive CSR initiatives remain uncelebrated. Hyatt Thrive is Hyatt’s signature of corporate responsibility platform, it support company business strategy and committed to responsible business practices to server and better partner with company’s key stakeholders. Hyatt Thrive focuses on four key pillars which believed are essential to thriving community: - Environmental Sustainability: Focus on Resource Sustainable Building Design and Construction; Carbon Emissions

Report for Capabilities - Talents and Belief- myassignmenthelp

Question: Write about theReport for Capabilities,Talents and Belief. Answer: The focus is on the business intelligence which includes the knowledge, experience, capabilities, talents and belief. The business culture is important for the company to process the ability to make all the important decisions with the data mining, predictive modelling and the multivariate testing (Laursen et al., 2016). The business analytics includes the IT involvement where the technology infrastructure and the tools can take hold of the change management and the end user involvement. The business analytics works with defining the needs and working over the criteria to meet success in the organisation. The information policy affects the business analytics through the web based facility which includes the 3D visualisation and the other immersive interfaces that allow the analysis of the larger sets of data to assist the business decision making. The information systems make use of solving the business problems with use of computer technology. This is mainly to develop the quantitative models and to create the database systems with great efficiency. IT systems also work over the informed business decisions which are based on the accuracy, timeliness and the relevant industry information. This is important for achieving the success in company. The leverage and the management of the information technologies have a major impact on the ability to analyse the corporate data for performing the business analytics. To support the outsourcing, the IT operations need to work over the client organisation with the transfer of people and the usage of facilities (Evans, 2016). The IT staff of the outsourced departments works on the IT development with identifying the needs and requirements to handle the current technological process. The BA need to focus over the processes and facilities, roles and the knowledge to access the control to systems and physical housing. The BA includes the planning with business modelling, business control that is set for the different business processes to a functional and the technical level. BA is important for the organisation to work over the access of the business domains, the different business models approaches as well as handling the laying down of the system as a document with the insights related to the business process. The development of the convincing model is mainly by documenting the requirements and understanding the ways to improve the efficiency of the process. It is important for the accuracy, completeness and to update the status. This works over the consistency across the data sources with reliability and accessibility. The organisation works over the standards which are important for the operational and the transactional processes of the business analytics. The data quality is set for entering, storing and proper management, where the process is related to the verification of the reliability and data effectiveness. The maintenance of the data quality also need to work over the data in the periodic forms and then scrubbing it. It involves the updates, standardisation and the de-duplication of records for creating a view for the data. References Evans, J. R. (2016).Business analytics: Methods, models, and decisions. Pearson. Laursen, G. H., Thorlund, J. (2016).Business analytics for managers: Taking business intelligence beyond reporting. John Wiley Sons. Shmueli, G., Lichtendahl Jr, K. C. (2017).Data Mining for Business Analytics: Concepts, Techniques, and Applications in R. John Wiley Sons.

National Flag of India free essay sample

The National Flag of India is a horizontal rectangular tricolour of deep saffron, white and India green; with the Ashoka Chakra, a 24-spoke wheel, in blue at its centre. It was adopted in its present form during a meeting of the Constituent Assembly held on 22 July 1947, when it became the official flag of the Dominion of India. The flag was subsequently retained as that of the Republic of India. In India, the term tricolour (Hindi: Tiranga) almost always refers to the Indian national flag. The flag is based on the Swaraj flag, a flag of the Indian National Congress designed by Pingali Venkayya. The flag, by law, is to be made of khadi, a special type of hand-spun cloth of cotton or silk made popular by Mahatma Gandhi. The manufacturing process and specifications for the flag are laid out by the Bureau of Indian Standards. The right to manufacture the flag is held by the Khadi Development and Village Industries Commission, who allocate it to the regional groups. We will write a custom essay sample on National Flag of India or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As of 2009, the Karnataka Khadi Gramodyoga Samyukta Sangha was the sole manufacturer of the flag. Usage of the flag is governed by the Flag Code of India and other laws relating to the national emblems. The original code prohibited use of the flag by private citizens except on national days such as the Independence day and the Republic Day. In 2002, on hearing an appeal from a private citizen, the Supreme Court of India directed the Government of India to amend the code to allow flag usage by private citizens. Subsequently, the Union Cabinet of India amended the code to allow limited usage. The code was amended once more in 2005 to allow some additional use including adaptations on certain forms of clothing. The flag code also governs the protocol of flying the flag and its use in conjunction with other national and non-national flags. Contents []