Implementing A Risk Management Framework In Developing Markets

This article assesses the status ofoperational risk management of banks in developing markets in the context ofBasel II. The aim of the article is to determine the extent to which riskmanagement staff is prepared to implement a risk management framework in linewith international best practice. An African commercial bank was examined usingsurvey data collected in July 2010 from 22 employees. The data were analysedusing descriptive statistics. Results obtained indicate knowledge gaps incollecting risk data and the application of risk models as limitations to theimplementation of the framework. The results support the commitment of moretime and financial resources in up-skilling staff if banks in developing marketsare to comply with regulatory requirements as recommended by the Basel Accord.

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Medical Device Risk Management For Performance Assurance Optimization and Prioritization

Biomedical Instrumentation & Technology ◽

10.2345/0899-8205-49.6.446 ◽

2015 ◽

Vol 49 (6) ◽

pp. 446-451

Author(s):

Tidimogo Gaamangwe ◽

Vishvek Babbar ◽

Agustina Krivoy ◽

Michael Moore ◽

Petr Kresta

Keyword(s):

Risk Management ◽

Medical Device ◽

Clinical Engineering ◽

Risk Models ◽

Management Framework ◽

Schedule Optimization ◽

Risk Management Framework ◽

Common Framework ◽

Efficient Data ◽

Operational Decision Making

Performance assurance (PA) is an integral component of clinical engineering medical device risk management. For that reason, the clinical engineering (CE) community has made concerted efforts to define appropriate risk factors and develop quantitative risk models for efficient data processing and improved PA program operational decision making. However, a common framework that relates the various processes of a quantitative risk system does not exist. This article provides a perspective that focuses on medical device quality and risk-based elements of the PA program, which include device inclusion/exclusion, schedule optimization, and inspection prioritization. A PA risk management framework is provided, and previous quantitative models that have contributed to the advancement of PA risk management are examined. A general model for quantitative risk systems is proposed, and further perspective on possible future directions in the area of PA technology is also provided.

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A holistic risk management framework to address the global noise-induced hearing loss pandemic

Corporate Ownership and Control ◽

10.22495/cocv12i3c3p2 ◽

2015 ◽

Vol 12 (3) ◽

pp. 295-303 ◽

Cited By ~ 2

Author(s):

Riaan Dirkse van Schalkwyk ◽

Rigard J. Steenkamp

Keyword(s):

Risk Management ◽

Hearing Loss ◽

Best Practice ◽

Holistic Approach ◽

World Health Organisation ◽

Modern Technology ◽

World Health ◽

Noise Induced Hearing Loss ◽

Management Framework ◽

Risk Management Framework

The paper presents a holistic risk management framework based on the core corporate governance principles and best-practice technology for addressing the global NIHL (noise-induced hearing loss) pandemic. While some await the announcement of a pharmaceutical drug therapy for hearing loss treatment and prevention, the challenges of noise control continue. Although preventable, the scenario remains tragic in terms of the statistics provided by the World Health Organisation (WHO). NIHL is among the most critical global health risks in terms of productivity, compensation statistics and noise-related deaths every year. Prevention of hearing loss remains the biggest challenge regardless of the availability of modern technology and best practice hearing conservation programmes (HCPs). An explorative research methodology was used to indicate a framework combining best practice with a diligent (bold) corporate and holistic approach to the NIHL problem. In essence, the paper therefore provides a thorough background to the global NIHL pandemic and presents a holistic risk management framework to address the problem

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Challenges facing banks in emerging countries to be Basel compliant for operational risk

Corporate Ownership and Control ◽

10.22495/cocv5i3c2p4 ◽

2008 ◽

Vol 5 (3) ◽

pp. 284-290

Author(s):

Jackie Young

Keyword(s):

Risk Management ◽

Operational Risk ◽

Central Banks ◽

Emerging Countries ◽

Practical Approach ◽

Basel Accord ◽

Management Framework ◽

Operational Risk Management ◽

Risk Management Framework ◽

Critical Issues

The New Basel Accord identified various requirements for an effective operational risk management framework. Most central banks and regulators adopted these requirements for their own banking environments. However, there are many challenges facing these banks to ensure the effective incorporation of such a framework. An end-result of establishing an operational risk management framework is to calculate and allocate a realistic capital charge for operational risk. To achieve this, various principles and methodologies must be embedded that will ensure a practical approach to operational risk management. This paper aims to identify certain critical issues and challenges for banks of emerging countries to consider when developing an operational risk management framework in order to comply with the Basel requirements.

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Risk Management Model in ITIL

Sociotechnical Enterprise Information Systems Design and Integration ◽

10.4018/978-1-4666-3664-4.ch013 ◽

2013 ◽

pp. 207-214

Author(s):

Sarah Vilarinho ◽

Miguel Mira da Silva

Keyword(s):

Risk Management ◽

Best Practice ◽

Service Management ◽

Management Model ◽

Business World ◽

Management Framework ◽

It Service ◽

Risk Management Framework ◽

Future Work ◽

It Risk

ITIL is considered a framework of Best Practice guidance for IT Service Management, and it is widely used in the business world. In spite of this, ITIL has some gaps in Risk Management specification. This chapter approaches this problem in ITIL and compares IT risk management in ITIL to other IT Governance Frameworks. Despite ITIL stating that risk should be identified, measured, and mitigated, it is not clear on how to proceed (no concrete process is defined on how to deal with risk). To solve this, the authors propose to map the M_o_R risk management framework in ITIL, mapping every M_o_R process in ITIL, therefore adopting a strong risk management in ITIL, based on concrete guidelines, without changing the framework. In this chapter, the authors summarize the necessary guidelines and show a planning for future work.

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Identifying the social, cultural and behavioural factors influencing an operational risk management framework implementation--Tanzania

PsycEXTRA Dataset ◽

10.1037/e508832013-001 ◽

2012 ◽

Author(s):

A. Van Niekerk ◽

M. May ◽

K. Moalusi ◽

D. Geldenhuys ◽

M. Levin

Keyword(s):

Risk Management ◽

Operational Risk ◽

Management Framework ◽

Operational Risk Management ◽

Risk Management Framework ◽

Factors Influencing ◽

The Social ◽

Behavioural Factors

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Developing and implementing the risk management framework into business processes of Gazprom transgaz Tomsk Ltd., for implementation of the Eastern gas program of PJSC Gazprom

Issues of Risk Analysis ◽

10.32686/1812-5220-2020-17-1-68-77 ◽

2020 ◽

Vol 17 (1) ◽

pp. 68-77

Author(s):

V. E. Zaikovsky ◽

A. V. Karev

Keyword(s):

Risk Management ◽

Human Resources ◽

Management Information System ◽

Business Processes ◽

Project Success ◽

Management Information ◽

Timely Manner ◽

Project Approach ◽

Management Framework ◽

Risk Management Framework

Project success depends on the ability to respond to risks and make correct decisions in a timely manner. The project approach provides a better framework for implementing a new management system into the company’s business processes. The risk management framework developed by the company comprises a risk management infrastructure, a set of standards, human resources, and a risk management information system. To improve staff compliance, it is necessary to provide training and to communicate the goals of the project effectively. It is also important to develop a motivation system because well trained and motivated staff are able to work more efficiently.

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