scholarly journals Editorial note

2018 ◽  
Vol 8 (1) ◽  
pp. 4-4
Author(s):  
Yulia Lapina
Keyword(s):  
Risk Management ◽  
Financial Markets ◽  
Management Practices ◽  
Editorial Note ◽  
Risk Governance ◽  
Recent Issue ◽  
Inflation Uncertainty ◽  
And Control

The recent issue of the journal Risk Governance and Control: Financial Markets & Institutions is devoted to the issues of fixed investments, risk management practices, inflation uncertainty, budgetary discipline, debtor’s right etc.

scholarly journals Editorial note

2018 ◽  
Vol 8 (2) ◽  
pp. 4-5
Author(s):  
Elizaveta Kravchenko
Keyword(s):  
Risk Management ◽  
Financial Markets ◽  
Low Income ◽  
Management Practices ◽  
Audit Fees ◽  
Risk Measurement ◽  
Editorial Note ◽  
Risk Governance ◽  
Recent Issue ◽  
And Control

The recent issue of the journal Risk Governance and Control: Financial Markets & Institutions is devoted to the issues of risk measurement, microinsurance, low-income markets, risk management practices, audit fees, etc.

scholarly journals Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark

2016 ◽  
Vol 14 (2-3) ◽  
Author(s):  
Tankiso Moloi
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Data Extraction ◽  
Risk Process ◽  
National Government ◽  
Annual Reports ◽  
Risk Governance ◽  
Risk Disclosure ◽  
Poor Risk ◽  
Management Disclosures

Government provides essential services to the population and therefore, uncertainties that could hinder government’s objectives should be identified, mitigated/controlled and monitored. Using the content analysis for data extraction in the annual reports of national government departments (NGDs), this paper explored risk management practices in South Africa’s public service, with national government departments as a case in point. The findings are that in general, there are poor risk management practices in the NGDs as the majority of the observed categories were not disclosed in the NGDs annual reports.Since risk deals with the uncertainties on the objectives, it is concerning that NGDs have poor risk management practices, particularly because they are enablers (implementers) of government overarching strategy. As enablers of government strategy, it is recommended that NGDs view risk management as a process that enables them to identify threats which could hinder the attainment of their objectives, whilst also leveraging opportunities that may arise. It is further recommended that the risk process is viewed as a scenario or option analysis exercise that allows NGDs to properly plan, understand the intended outcomes and prepare responses to deal with any uncertainties. A summarised and harmonized risk governance requirement used for the purpose of exploring risk management disclosures has been suggested by this study and it could be used as a reference point of risk disclosure improvement by NGDs.

scholarly journals Editorial: Public and private finance and financial markets during the second wave of the Covid-19 pandemic

2020 ◽  
Vol 10 (3) ◽  
pp. 4-6
Author(s):  
Marco Venuti
Keyword(s):  
Financial Markets ◽  
Risk Governance ◽  
Public And Private ◽  
Private Finance ◽  
The Third ◽  
Markets And Institutions ◽  
And Control ◽  
Second Wave

The third issue of the journal Risk Governance and Control: Financial Markets and Institutions provides contributions to the exploration of subjects related to public and private finance and the functioning and investment techniques of financial markets. These are all topical issues that may give rise to further research in order to understand better how countries, markets and companies are facing the challenges due to the Covid-19.

scholarly journals Risk management reconceived: reconciling economic rationality with behavioural tendencies

2010 ◽  
Vol 1 (1) ◽  
pp. 1 ◽  
Author(s):  
Ruth Murray-Webster ◽  
Sergio Pellegrinelli
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Economic Value ◽  
Project Planning ◽  
Economic Rationality ◽  
Planning And Control ◽  
Gain Loss ◽  
Audit Activity ◽  
And Control ◽  
Biases And Heuristics

Risk management practices as described in many leading texts feel counterintuitive to many practitioners and are frequently ignored, despite their being evidently logical and potentially valuable. Such practices are often conceived as a remedial post-planning, audit activity. This paper proposes an approach for dealing with project uncertainty and risk, grounded in economics and taking into account behavioural biases and heuristics. The proposed approach is argued to be an enhancement to conventional risk management practices and one that can serve organisations better while also aligning to experienced practitioners’ intuitive approaches. In particular, we argue: that the focus should be on adding economic value rather than reducing risk per se; that opportunity gain/loss is a superior metric for gauging potential impacts of risky events; and that creation of real options should be emphasised as part of the repertoire of generic response actions to risk. The approach also supports the integration and handling of uncertainty and risk as part of holistic project planning and control.

Risk and risk management practices

2020 ◽  
Vol 11 (8) ◽  
pp. 1555-1581 ◽  
Author(s):  
Adel Elgharbawy
Keyword(s):  
Risk Management ◽  
Credit Risk ◽  
Management Practices ◽  
Archival Data ◽  
Islamic Banks ◽  
Monitoring And Control ◽  
Content Type ◽  
Different Types ◽  
Conventional Banks ◽  
And Control

Purpose This study aims to compare types and levels of risk and risk management practices (RMPs) including the recognition, identification, assessment, analysis, monitoring and control of risk in both Islamic and conventional banks. Design/methodology/approach A questionnaire survey was conducted among the Islamic and conventional banks in Qatar, together with an analysis of archival data extracted from the Thomson Reuters Eikon database for the period 2009-2018. Data were analysed using descriptive statistics, ANOVA and regression analysis. Findings Islamic banks encounter unique types and levels of risk that are not encountered by conventional banks. In Islamic banks, risks such as those of operation and Sharia non-compliance are perceived to be higher, while in conventional banks other risks such as those of credit and insolvency are higher; other risks, for example, liquidity risk, are faced by both. RMPs are determined by understanding risk and risk management, risk identification, risk monitoring and control and credit risk analysis, but not by risk assessment and analysis. However, the RMPs of the two types of bank are not significantly different, except in the analysis of credit risk. Research limitations/implications The study contributes to the debate in the literature by developing a better understanding of the dynamism of risk management in Qatari banks, which can be extended to similar contexts in the region. However, the relatively small sample size in only one country limits the possibility of generalizing the findings. The survey methodology is based on the perception of bankers rather than their actual actions and does not provide in-depth analysis for each type of risk, especially credit risk. However, using archival data, in addition to those from the survey, minimises the bias that would result from depending on one source of data. Practical implications The study provides valuable insights into the different types and levels of risk, as well as the RMPs in Islamic and conventional banks, which can help in guiding the future development and regulation of risk management in the banking sector of Qatar and its region. Originality/value The study helps to explain the mixed results of previous studies that compare types and levels of risk and RMPs in Islamic and conventional banks. Using different types of data and analysis, it provides evidence from one of the fastest growing economies in the world. It also addresses the concerns over RMPs in banks since the global financial crisis.

scholarly journals Internal audit risk management in metropolitan municipalities

2016 ◽  
Vol 6 (3) ◽  
pp. 36-44 ◽  
Author(s):  
Christo Ackermann ◽  
Ben Marx
Keyword(s):  
Risk Management ◽  
Audit Committee ◽  
Internal Audit ◽  
Senior Management ◽  
Audit Committees ◽  
Risk Governance ◽  
Specific Reference ◽  
Managing Risk ◽  
And Control ◽  
Metropolitan Municipalities

Internal audit functions (IAFs) of organisations are regarded as crucial components of the combined assurance model, alongside the audit committee, management and external auditors. The combined assurance model aims at having integrated and aligned assurance in organisations with the overall aim of maximising risk and governance oversight and control efficiencies. In this regard, internal audit plays a crucial role, insofar as it consists of experts in risk, governance and control consultancy who provide assurance to senior management and the audit committee. Audit committees are dependent on internal audit for information and their effectiveness revolves around a strong and well-resourced internal audit function which is able to aid audit committees to meet their oversight responsibilities. There is thus a growing demand for managing risk through the process of risk management and internal audit is in a perfect position to assist with the improvement of such processes. If internal auditors wish to continue being an important aspect of the combined assurance model, they need to address the critical area, amongst others, of risk management as part of their work. If not, it follows that the board, audit committees and other levels of management will remain uninformed on the status of these matters which, in turn, will negatively impact the ability of these stakeholders to discharge their responsibilities. This study therefore focuses on analysing the functioning of IAFs, with specific reference to their risk management mandate. The study followed a mixed method approach to describe internal audits risk management functioning in the big eight metropolitan municipalities in South Africa. The results show that internal audit provide a broad scope of risk management work which assist senior management in the discharge of their responsibilities. However, in the public eye, internal audits risk management functioning is scant.

scholarly journals Biobanking and risk assessment: a comprehensive typology of risks for an adaptive risk governance

2021 ◽  
Vol 17 (1) ◽  
Author(s):  
Kaya Akyüz ◽  
Gauthier Chassang ◽  
Melanie Goisauf ◽  
Łukasz Kozera ◽  
Signe Mezinska ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Management Practices ◽  
Good Governance ◽  
Daily Practice ◽  
Risk Governance ◽  
Institutional Research ◽  
Conceptual Approach ◽  
Related Data ◽  
Institutional Actors

AbstractBiobanks act as the custodians for the access to and  responsible use of human biological samples and related data that have been generously donated by individuals to serve the public interest and scientific advances in the health research realm. Risk assessment has become a daily practice for biobanks and has been discussed from different perspectives. This paper aims to provide a literature review on risk assessment in order to put together a comprehensive typology of diverse risks biobanks could potentially face. Methodologically set as a typology, the conceptual approach used in this paper is based on the interdisciplinary analysis of scientific literature, the relevant ethical and legal instruments and practices in biobanking to identify how risks are assessed, considered and mitigated. Through an interdisciplinary mapping exercise, we have produced a typology of potential risks in biobanking, taking into consideration the perspectives of different stakeholders, such as institutional actors and publics, including participants and representative organizations. With this approach, we have identified the following risk types: economic, infrastructural, institutional, research community risks and participant’s risks. The paper concludes by highlighting the necessity of an adaptive risk governance as an integral part of good governance in biobanking. In this regard, it contributes to sustainability in biobanking by assisting in the design of relevant risk management practices, where they are not already in place or require an update. The typology is intended to be useful from the early stages of establishing such a complex and multileveled biomedical infrastructure as well as to provide a catalogue of risks for improving the risk management practices already in place.

scholarly journals Governance of risks in South Africa’s public higher education institutions (HEIs)

2016 ◽  
Vol 13 (2) ◽  
pp. 226-234 ◽  
Author(s):  
Tankiso Moloi
Keyword(s):  
Higher Education ◽  
South Africa ◽  
Risk Management ◽  
Management Practices ◽  
Higher Education Institutions ◽  
Relevant Literature ◽  
Strategic Decision ◽  
Annual Reports ◽  
Risk Governance ◽  
Risk Disclosure

The author examines the manner in which risk is governed within higher education institutions (HEIs) in South Africa by formulating risk governance statements based on the requirements of the King III Report on Corporate Governance and other relevant literature. The formulated risk governance statements are used to develop the risk disclosure measurement index. Disclosure measurement method is accepted as a flexible method to use when extracting the pre-determined information in the annual reports. The developed risk disclosure index is used to extract the information from South Africa’s higher education institutions’ annual reports. The information disclosed in these annual reports is deemed a proxy of risk management practices within the higher education institution concerned. The results obtained indicate that South Africa’s higher education institutions have not embraced risk management as a key process in their activities. This is apparent in the assessed annual reports as compliance with the pre-determined set of statements was around 50%. For those that have not demonstrated these practices, it is stated that the concern is around the manner in which their highest decision makers make decisions, as it appears that risks may not necessarily be taken into account. As higher education institutions in South Africa continues to face challenges and they would possible be revising their strategies to take into account the recent events, every strategic decision being undertaken should be accompanied by a proper risk assessment to identify potential pitfalls (threats) and/or take advantage to achieve results promptly (opportunities)

scholarly journals Managing Knowledge and Risk – A Literature Review on the Interdependency of QRM and KM as ICH Q10 Enablers

2020 ◽  
Vol 26 (4) ◽  
Author(s):  
Marty Lipa ◽  
Keyword(s):  
Risk Management ◽  
Knowledge Management ◽  
Literature Review ◽  
Management Practices ◽  
Biopharmaceutical Industry ◽  
Strong Argument ◽  
Regulatory Guidance ◽  
Pharmaceutical Quality System ◽  
Managing Risk ◽  
And Control

Quality Risk Management (QRM) and Knowledge Management (KM) have been positioned as co-enablers to the Pharmaceutical Quality System since the 2010 issuance of ICH Q10. Yet these disciplines have remained largely distinct and disconnected in practice. This paper presents a two-part literature review on this topic. First is a review of how other industries have connected risk management and knowledge management. This is followed by a review of relevant biopharmaceutical industry regulatory guidance to explore expectations for how risk, risk management, knowledge and knowledge management are interdependent. The results suggest there is a strong argument in favor of linking risk management and knowledge management and other industries have demonstrated benefits in doing so. Furthermore, the review of the biopharmaceutical industry regulatory guidance shows the clear and persistent benefits of connecting the expectations of managing risk and knowledge together. A key conclusion is that risk varies inversely with knowledge application and therefore, a lower level of risk to quality (and ultimately to the patient) can be achieved through risk management practices when a thoughtful and programmatic approach to knowledge management is in place, providing the best possible knowledge to assess and control risk.

scholarly journals Editorial: COVID-19: The unexpected and disruptive event that will radically shake up and change the world as we know it

2020 ◽  
Vol 10 (4) ◽  
pp. 4-6
Author(s):  
Ivo Pezzuto
Keyword(s):  
Financial Markets ◽  
Business Models ◽  
Investment Decisions ◽  
Central Banks ◽  
Risk Governance ◽  
Portfolio Investment ◽  
Financial Systems ◽  
Factors Affecting ◽  
And Control ◽  
The Impact

The fourth issue of the Risk Governance and Control: Financial Markets & Institutions journal (volume 10, issue 4) explores a number of stimulating subjects related to the future of finance, banking, and financial systems such as the impact of big banks’ digitalization and mergers and acquisitions (M&A) strategies on the sustainability of local banks’ business models and on their relationship with the territory; the factors affecting portfolio investment decisions in the emerging markets, or central banks’ mission to assure stability to the purchasing power of their currencies.

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