scholarly journals THE CONDUCT OF RISK MANAGEMENT IN TRADE FINANCING PROCESSES: EXPLORING THE PROSPECTS AND CHALLENGES IN FINTECH ERA

2020 ◽  
Vol 8 (2) ◽  
pp. 431-440
Author(s):  
Safeza Mohd Sapian ◽  
Norhazlina Ibrahim ◽  
Syahidawati Hj. Shahwan
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Industrial Revolution ◽  
Framework Analysis ◽  
Trade Finance ◽  
New Era ◽  
Banking And Finance ◽  
Wide Range ◽  
Trade Financing ◽  
Current Risk

Purpose of the study: To investigate the conduct of risk management in trade financing processes as well as to identify potential issues in risk management relating to fintech in trade financing. At the same time, this study had the opportunity to explore all possible prospects and challenges that this new era of digital could offer to the banking industry. Methodology: The study employed an interview with experts for the means of data collection with the aim of gathering a wide range of information and opinion from the industry experts on the subjects of this study. The data collected from interview transcripts are analysed contextually based on thematic analysis and framework analysis. Main Findings: The findings suggested risk management in trade financing processes is critical due to the nature of cross-country transactions and the current era of fintech has further escalated the risk exposure to fintech-related types of risk. Strategies to improve the current conduct of risk management in trade finance processes have been identified where opportunities and challenges can be managed effectively. Applications of this study: Findings from this study will give valuable insights to the banking and finance industry’s practitioners, especially those who are directly involved in trade financing processes as well as the top management of the banks to further improve current risk management practices in particular catering for the new fintech era. This is essential in facing the wave of the 4th industrial revolution. Novelty/Originality of this study: This study has contributed to the limited number of published studies in this area. Most importantly, the attempt to investigate the current practice of risk management and identify actual issues and problems in trade financing processes through financial technology platform has not been researched and explored before.

scholarly journals Effectiveness of Enterprise Risk Management Practices: A Case Study

2019 ◽  
Vol 10 (2) ◽  
pp. 213
Author(s):  
Hafizah Zainol Abidin ◽  
Siti Zaleha Abdul Rasid ◽  
Haliyana Khalid ◽  
Rohaida Basiruddin ◽  
Shathees Baskaran
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Gap Analysis ◽  
Enterprise Risk Management ◽  
Web Based ◽  
Enterprise Risk ◽  
Telecommunication Companies ◽  
Planning Development ◽  
Current Risk

Enterprise risk management (ERM) is used to manage, integrate and aggregate all types of risks encountered by the concerned organisation. Despite having established framework and guidelines, the implementation of ERM at divisional level seemed to be lacking. There are gaps in the actual risk management practices that need to be studied and narrowed to ensure a more effective implementation of risk management. Therefore, the objective of this study is to identify characteristics of effective risk management practices and to gauge the effectiveness level at a telecommunication company. The gaps between the actual practices and the expected practices based on twenty-four (24) identified characteristics are identified and compared upon before recommendations are made to close the gaps and further enhance the risk management practices. For the purpose of this research the self-administered, web-based questionnaires were distributed to a total number of 130 engineers who were actively involved with network infrastructure planning, development and maintenance. The feedbacks received indicated that the respondents agreed with the identified characteristics of effective risk management practices and generally agreed that the effectiveness level of current risk management practices in the company is moderate or average. Furthermore, the gap analysis based on the variances indicates that there are rooms for further improvement. The study is important for more effective risk management practices in telecommunication companies. 

Governmental Risk Management in Public Policy and Legislation: Problems and Options

1977 ◽  
Vol 2 (2) ◽  
pp. 255-317 ◽  
Author(s):  
Werner Pfennigstorf
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Insurance Coverage ◽  
Business Organizations ◽  
Government Officials ◽  
Municipal Governments ◽  
Wide Range ◽  
Mutual Insurance ◽  
Liability Risk ◽  
Traditional Approaches

Governments, like business organizations, are exposed to risks of many kinds and have a wide range of options how to respond–from bearing the full risk themselves to obtaining full insurance coverage. The author discusses some of the traditional approaches to governmental risk management in the light of new and increasing risks–such as the liability risk–and the growing sophistication of risk management methods. He notes in particular how a government's risk management decisions differ from those of a business organization because of the unique characteristics of government entities: perpetual existence; taxing power; the need to prevent nepotism, bribery, and corruption in government administration; and political mandates and pressures of all kinds. These forces account for restrictive procurement rules and for various forms of “self-insurance” arrangements. The author finds, among other things, that in most states the rules have not kept pace with the multiplication of risks and the development of new risk management and insurance techniques, and that small and medium municipalities, especially, suffer from inadequate access to sound risk management services. On the basis of an examination of European municipal risk management practices, the author then suggests as an appropriate solution the formation of special mutual insurance organizations for municipal governments, controlled and administered by local government officials.

scholarly journals Records management and risk management at Kenya Commercial Bank Limited, Nairobi

2011 ◽  
Vol 13 (1) ◽  
Author(s):  
Cleophas Ambira ◽  
Henry Kemoni
Keyword(s):  
Risk Management ◽  
Commercial Bank ◽  
Management Practices ◽  
Process Analysis ◽  
Management Model ◽  
Success Factor ◽  
Records Management ◽  
Wide Range ◽  
The Government ◽  
Government Of Canada

Background: This paper reported empirical research findings of an MPhil in Information Sciences (Records and Archives Management) study conducted at Moi University in Eldoret, Kenya between September 2007 and July 2009.Objectives: The aim of the study was to investigate records management and risk management at Kenya Commercial Bank (KCB) Ltd, in the Nairobi area and propose recommendations to enhance the functions of records and risk management at KCB. The specific objectives of the study were to, (1) establish the nature and type of risks to which KCB is exposed, (2) conduct business process analysis and identify the records generated by KCB, (3) establish the extent to which records management is emphasised within KCB as a tool to managing risk, (4) identify which vital records of KCB need protection because of their nature and value to the bank and (5) make recommendations to enhance current records management practices to support the function of risk management in KCB.Method: The study was qualitative. Data were collected through face-to-face interviews. The theoretical framework of the study involved triangulation of the records continuum model by Frank Upward (1980) and the integrated risk management model by the Government of Canada (2000).Results: The key findings of the study were, (1) KCB is exposed to a wide range of risks by virtue of its business, (2) KCB generates a lot of records in the course of its business activities and (3) there are inadequate records management practices and systems, the lack of which undermines the risk management function.Conclusion: The findings of this study have revealed the need to strengthen records management as a critical success factor in risk mitigation within KCB and, by extension, the Kenyan banking industry. A records management model was proposed to guide the management of records within an enterprise-wide risk management framework in the bank.

Directors of Public and Private State-of-the-Art Multimillion Dollar Recreational Facilities Lead the Way in Risk Management Practices

2005 ◽  
Vol 29 (2) ◽  
pp. 92-107 ◽  
Author(s):  
Alvy E. Styles ◽  
Aaron L. Mulrooney
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
State Of The Art ◽  
Management Program ◽  
Recreational Facilities ◽  
Public And Private ◽  
College And University ◽  
Wide Range ◽  
Recreation Directors ◽  
Risk Management Program

The study's purpose was to identify and examine two main areas: the risk management practices and documents being used by recreation directors of state-of-the-art multimillion dollar recreational facilities and the number of lawsuits, settlements, and accidents. Due to the large amount of financial and legal risk exposure at these facilities, it is assumed that the facility directors would implement and rate as either important or very important the five elements of a bona fide risk management program: Surveys were distributed to recreational directors in senior colleges and universities throughout the US. The sample frame was listing in the National Intramural Recreational Sports Association Facilities of Distinction, Volumes, I, II, and III, and college and university facilities listed in “State of the Art Facilities” in Athletic Business ( N = 65). These institutions typically offer a wide range of recreational programs and have large recreational facilities that are either purpose-built or shared. A total of 35 recreational directors responded, a 54% return rate. The findings suggest that: (a) the importance of risk management practices has reached the university administration, (b) recreational directors are implementing risk management plans, (c) recreational directors are creating their own risk management manuals, and (d) the ACSM and the NIRSA documents are the two publications most commonly used by recreational directors to assist them in creating their risk management manuals.

Risk management in occupational safety: A systematic mapping

Work ◽  
2021 ◽  
pp. 1-20
Author(s):  
Ana Caroline Francisco da Rosa ◽  
Gislaine Camila Lapasini Leal ◽  
Edwin Vladimir Cardoza Galdamez ◽  
Rodrigo Clemente Thom de Souza
Keyword(s):  
Risk Management ◽  
Occupational Safety ◽  
Management Practices ◽  
Selection Process ◽  
Research Process ◽  
Future Research ◽  
Planning Stage ◽  
Wide Range ◽  
Literature Mapping ◽  
Systemic Process

BACKGROUND: Occupational safety risk management is a systemic process capable of promoting technical engineering solutions, considering a wide range of predictable, unexpected and subjective factors related to accident occurrences. In Brazil, the behavior of managers in relation to risk management tends to be reactive, and facilitates access to information for crucial practical and academic purposes when it comes to changing the attitude of managers, so that their actions become increasingly more proactive. OBJECTIVE: To identify, classify, analyze, and discuss the existing literature related to the topic, produced from 2008 to 2020, besides contributing to a broader understanding of risk management in occupational safety. METHODS: We did a systematic literature mapping. The research process was documented starting by the planning stage. Afterwards, the focus was on research conduction and information synthesis. RESULTS: Knowledge systematization and stratification about OHS risk management through various perspectives to identify, analyze and manage risks in the workplace. Were identified 37 tools for identifying and analyzing risks, management-related practices and future research trends. CONCLUSIONS: The set of tools and management practices identified can be used as a support for decision making in the selection process of tools and practices to reduce risks and improve occupational safety. Also, the results can help target future research.

scholarly journals Assessment of Risk Management Practices in the Public Sector of Malaysia

2021 ◽  
Author(s):  
Jamaliah Said ◽  
Md. Mahmudul Alam ◽  
Razana Juhaida Johari
Keyword(s):  
Risk Management ◽  
Public Sector ◽  
Management Practices ◽  
Descriptive Statistics ◽  
Primary Data ◽  
Department Heads ◽  
The Public ◽  
Public Sector Employees ◽  
Public Sectors ◽  
Current Risk

Public sectors around the world, especially in the developing counties, are not functioning well due to widespread fraud, governance, corruption, and inefficacy. For this reason, the world’s public sectors need to improve their efficacy by using a sound risk management system. This study attempts to comprehend the phenomenon of current risk management practices among the public sector employees in different service schemes in Malaysia. A questionnaire survey was utilized to collect primary data from 194 department heads in Malaysia’s federal ministries. The collected data was analysed using descriptive statistics and factor analysis. Findings revealed that 94.7% of respondents agreed to implementing risk management in their respective departments, but the level of priority for these risk management factors differs based on the service schemes. This study will assist policymakers to identify what is needed to enhance risk management practices in the public sector.

Impression management and legitimacy strategies: The BP case

2013 ◽  
pp. 35-64 ◽  
Author(s):  
Giovanna Michelon
Keyword(s):  
Impression Management ◽  
Management Practices ◽  
Legitimacy Theory ◽  
British Petroleum ◽  
Wide Range ◽  
Management Techniques ◽  
Disclosure Tone ◽  
The Empirical Analysis ◽  
A Company ◽  
Texas City

The aim of this paper is to study if and how impression management varies during different phases of the legitimation process, in particular during the legitimacy building and legitimacy repairing phases (Suchman, 1995). We aim at understanding whether and how the disclosure tone adopted by a company in the two different moments is diverse and thus functional to the intrinsic objective of the each phase. The empirical analysis focuses on the case of British Petroleum Plc. We investigated the impression management practices undertaken by the company both during the preparation of the rebranding operation, i.e. a situation in which the company is trying to build legitimacy; and during the happenings of two legitimacy crises, like the explosion of the refinery in Texas City and the oil spill in the Gulf of Mexico. The evidence appears in line with the theoretical prediction of legitimacy theory. Results show that while the company tends to privilege image enhancement techniques during the legitimacy-building phase, it uses more obfuscation techniques when managing a legitimacy-repairing process. Moreover, the analysis suggests that the company makes more extensive use of impression management techniques in the disclosures addressed to shareholders, investors and other market operators than in the disclosures addressed to the wide range of other stakeholders.

The Impact of Shariah Governance and Corporate Governance on the Risk Management Practices: Evidence from Local and Foreign Islamic Banks in Malaysia

2018 ◽  
Vol 15 (2) ◽  
pp. 1-20
Author(s):  
Sabri Embi ◽  
Zurina Shafii
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Management Practices ◽  
Principal Component ◽  
T Test ◽  
The Body ◽  
Primary Data ◽  
Islamic Banks ◽  
Shariah Governance ◽  
The Impact

The purpose of this study is to examine the impact of Shariah governance and corporate governance (CG) on the risk management practices (RMPs) of local Islamic banks and foreign Islamic banks operating in Malaysia. The Shariah governance comprises the Shariah review (SR) and Shariah audit (SA) variables. The study also evaluates the level of RMPs, CG, SR, and SA between these two type of banks. With the aid of SPSS version 20, the items for RMPs, CG, SR, and SA were subjected to principal component analysis (PCA). From the PCA, one component or factor was extracted each for the CG, SR, and RMPs while another two factors were extracted for the SA. Primary data was collected using a self-administered survey questionnaire. The questionnaire covers four aspects ; CG, SR, SA, and RMPs. The data received from the 300 usable questionnaires were subjected to correlation and regression analyses as well as an independent t-test. The result of correlation analysis shows that all the four variables have large positive correlations with each other indicating a strong and significant relationship between them. From the regression analysis undertaken, CG, SR, and SA together explained 52.3 percent of the RMPs and CG emerged as the most influential variable that impacts the RMPs. The independent t-test carried out shows that there were significant differences in the CG and SA between the local and foreign Islamic banks. However, there were no significant differences between the two types of the bank in relation to SR and RMPs. The study has contributed to the body of knowledge and is beneficial to academicians, industry players, regulators, and other stakeholders.

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