scholarly journals Analisis Tingkat Maturitas Implementasi Manajemen Risiko di IPB University

2021 ◽  
Vol 12 (3) ◽  
pp. 177-188
Author(s):  
Ryandi Simanjuntak ◽  
D S Priyarsono ◽  
Titik Sumarti
Keyword(s):  
Risk Management ◽  
Environmental Changes ◽  
Secondary Data ◽  
Maturity Level ◽  
Management Framework ◽  
Risk Management Framework ◽  
Positive Attitudes ◽  
Risk Management Process ◽  
Managing Risk ◽  
Level Of Risk

The implementation of risk management will not always achieve its goals. This problem can be caused by lack of consistency during the risk management implementation or it can not adapt to environmental changes. Therefore, an organization needs to measure the maturity level of the organization’s risk management implementation. This research aims to analyze the maturity level of risk management implementation at IPB University. The research was conducted at IPB University, and it was using primary and secondary data. Research shows that the characteristics that need to be measured, or the attributes that need to be measured, in measuring the maturity level of risk management implementation at IPB University are risk culture, risk management framework, risk management process and risk management documents. The attributes will have their indicators, parameters, and test factors. The result of the measuring of maturity level of risk management implementation at IPB University indicates that risk management at IPB University has been implemented systematically and the implementation has referred to the standard consistently and comprehensively. Risk management has begun to be integrated to organization governance and management. The risk management competence, leadership, and commitment are starting to expand through the organization but the positive attitudes in managing risk is still tend to be limited.

scholarly journals Assembly of a conduct risk regulatory model for developing market banks

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Antje Hargarter ◽  
Gary Van Vuuren
Keyword(s):  
Risk Management ◽  
South African ◽  
Financial Services ◽  
Secondary Data ◽  
Positive Outcome ◽  
Management Framework ◽  
Risk Management Framework ◽  
Regulatory Strategy ◽  
New Type ◽  
Regulatory Model

Background: The substantial penalties imposed on banks in the recent past for various conduct irregularities have given rise to a new type of risk called conduct risk. Conduct risk comes about when financial services companies conduct themselves in an inappropriate way towards their customers, resulting in a negative (economic) outcome for the customer. What makes the management and mitigation of conduct risk by banks so different is that it cannot be easily integrated into a bank’s standard risk management framework. So far, the concept of conduct risk has not been formally covered by the Basel Accords.Aim: There are, however, global efforts by international organisations and local regulators to control it – with little clarity on the ‘how’. The aim of this study is to explore this ‘how’.Setting: While regulators need to protect customers, resulting in a positive outcome for the customer, they must also ensure that banks take conduct risk management and its mitigation seriously. At the same time, any regulatory model for conduct risk needs to be incorporated into the existing bank regulatory strategy and methodology and assimilated with the profile of a country.Methods: An exploratory model that regulators could use to keep conduct risk at bay is developed based on primary and secondary data and this is then applied to the South African, Kenyan and Malaysian milieus to determine what can be learnt about conduct risk in emerging economies.Results: The model investigates the interrelationships between different goals that regulators ideally need to achieve and the findings show that regulators have a difficult task balancing these goals and at the same time achieving a positive outcome.Conclusion: Based on the model, the recommendation for regulators in the developing world would be to collaborate in their approach to conduct risk, as they might face similar difficulties and operate in a comparable context.

scholarly journals Development of methodological approaches to establishing an integrated risk management framework for leasing transactions in Ukraine

2017 ◽  
pp. 49-63
Author(s):  
Anzhela Kuznietsova ◽  
Oleksandr Levchenko
Keyword(s):  
Risk Management ◽  
Product Life Cycle ◽  
Risk Mitigation ◽  
Management Framework ◽  
Risk Management Framework ◽  
Integrated Risk ◽  
Credit Mechanism ◽  
Risk Management Process ◽  
Low Efficiency ◽  
Integrated Risk Management

Based on studies of domestic and foreign researchers, the article gives a modified and extended classification of risks related to leasing transactions which includes a new classify cation attribute ‘by types of leasing activities’ (in terms of risk management). Risk mitigation techniques for leasing transactions are described in detail, as well as their essence, ways of introducing and expected outcomes. The advantages of securitization are summarized and key reasons for low efficiency of this method in the domestic leasing market are identified. For these reasons, the domestic stock market is less developed and Ukraine’s current legislation on leasing is imperfect. It is pointed out that success in development of Ukraine’s financial market relies on the growth of leasing along with the efficiency of financial and credit mechanism that supports leasing transactions and determines the quality of risk management framework as an integral part of such a mechanism. The process of risk management for leasing transactions is formalized. A comparative analysis of fragmentary and complex approaches applied in Ukraine towards establishing a risk management framework for leasing companies is undertaken. The paper justifies the necessity of establishing an integrated risk management framework for leasing transactions as part of financial and credit mechanism that supports leasing transactions. The need for establishing such a framework is driven by the following market trends: globalization; increased competition; company consolidation; product standardization; product life cycle decrease; technological innovation; increased attention to risks given by the state, society, stockholders and board of directors. It is stated that establishing an integrated risk management framework for leasing transactions involves the following progressive steps: setting goals and targets, identifying and evaluating risks, planning for potential risks, monitoring risks and introducing risk management process. The article highlights the main goal of an integrated risk management framework for leasing transactions, long-term tasks for achieving this goal, major function that the framework should perform and principles that it should preserve.

scholarly journals Intelligent Risk Management framework

2019 ◽  
Vol 8 (3) ◽  
pp. 278
Author(s):  
Wissam ABBASS ◽  
Zineb BAKRAOUY ◽  
Amine BAINA ◽  
Mostafa BELLAFKIH
Keyword(s):  
Risk Management ◽  
Dynamic Structure ◽  
Large Set ◽  
Key Factors ◽  
Iot Security ◽  
Management Framework ◽  
Risk Management Framework ◽  
Risk Management Process ◽  
Iot Devices ◽  
Area Monitoring

The Internet of Things(IoT) is rapidly increasing and enhancing today’s world by introducing a large set of interconnected devices. Several beneficial services are produced by these devices as for area monitoring and process control. However, IoT security is still a major problem. In fact, IoT’ security beggings largely whith an effective Risk Management process. However, the essense of this process is to acquire a risk inventory cibling the IoT devices. Nevertheless, it is quite difficult to obtaining this latter which significantly adds complication issues to the Risk Management.Without the ability of holisticly identify the IoT critical devices, inaccurate Risk Management is achieved which leads unfortunately to novel risk exposures. Traditional Risk-based approaches fails drastically at apprending IoT’ potential attacks. The dynamic structure, the heteregouns nature of devices, the various security objectives and infrastructure pervasiveness are key factors impacting the overall perfomance. Thus, a holistic Risk Management witihin the IoT is indispensable. Accordingly, we propose an intelligent Risk Management framework using Mobile Agents in order to deliver preventive and responsive assessment.

Common risks in the translation industry

2018 ◽  
Vol 5 (2) ◽  
pp. 95-113 ◽  
Author(s):  
Helia Vaezian ◽  
Mahmoud Akbari
Keyword(s):  
Risk Management ◽  
Quantitative Research ◽  
Maturity Level ◽  
Management Framework ◽  
Qualitative And Quantitative ◽  
Risk Management Framework ◽  
The Common ◽  
Two Phases ◽  
Qualitative Phase ◽  
Risk Categories

Abstract The present research aimed at identifying and categorizing the common risks in the operations of translation companies. It further investigated the maturity level of translation companies in terms of risk management and their attitudes toward the application of a comprehensive risk management framework into their activities. The study had two phases of qualitative and quantitative research. During the qualitative phase, a total of 400 translation projects were observed in four translation companies and further based on the results of the qualitative phase, three questionnaires were developed and sent to 226 translation companies around the world. The researchers identified 44 risk candidates in the operation of translation companies and statistically grouped them into six risk categories. The results further indicated that translation company managers hardly know what risk management is about, while they demonstrated a significant interest in the application of a risk management framework into their activities.

Development and Implementation of an Operational Risk Management Framework Aligned With ISO 31000

2012 ◽  
Author(s):  
David Weir ◽  
Susan Urra
Keyword(s):  
Risk Management ◽  
Cultural Change ◽  
Operational Risk ◽  
International Standards ◽  
Management Framework ◽  
Operational Risk Management ◽  
Risk Management Framework ◽  
Early Results ◽  
Risk Management Process ◽  
Iso 31000

The International Standards Organization (ISO) standard 31000 (Risk Management – Principles and Guidelines) provides guidance on the development of a systematic approach to managing risk within an organization. Using ISO 31000 as a guide, Enbridge Pipelines has enhanced its existing release-focused risk-informed decision-making approach and risk management process. The development of this enhancement has involved engagement of all levels of management and staff, and has required consideration of corporate cultural change, staff communication and training, development of performance measures, and management reporting. This paper provides a high level overview of the ISO 31000 standard as it pertains to its use in the development of the Enbridge Pipelines operational risk management framework, the roadmap for implementation of the framework, and discusses the challenges, successes, learnings, and early results of implementing the framework in a large multi-national pipeline company.

scholarly journals The climate change risk management matrix for the grazing industry of northern Australia

2009 ◽  
Vol 31 (1) ◽  
pp. 31 ◽  
Author(s):  
David H. Cobon ◽  
Grant S. Stone ◽  
John O. Carter ◽  
Joe C. Scanlan ◽  
Nathan R. Toombs ◽  
...  
Keyword(s):  
Climate Change ◽  
Risk Management ◽  
Summer Rainfall ◽  
Northern Australia ◽  
Adaptive Responses ◽  
Gross Margin ◽  
Management Framework ◽  
Risk Management Framework ◽  
Risk Management Process ◽  
Robust Adaptive

The complexity, variability and vastness of the northern Australian rangelands make it difficult to assess the risks associated with climate change. In this paper we present a methodology to help industry and primary producers assess risks associated with climate change and to assess the effectiveness of adaptation options in managing those risks. Our assessment involved three steps. Initially, the impacts and adaptation responses were documented in matrices by ‘experts’ (rangeland and climate scientists). Then, a modified risk management framework was used to develop risk management matrices that identified important impacts, areas of greatest vulnerability (combination of potential impact and adaptive capacity) and priority areas for action at the industry level. The process was easy to implement and useful for arranging and analysing large amounts of information (both complex and interacting). Lastly, regional extension officers (after minimal ‘climate literacy’ training) could build on existing knowledge provided here and implement the risk management process in workshops with rangeland land managers. Their participation is likely to identify relevant and robust adaptive responses that are most likely to be included in regional and property management decisions. The process developed here for the grazing industry could be modified and used in other industries and sectors. By 2030, some areas of northern Australia will experience more droughts and lower summer rainfall. This poses a serious threat to the rangelands. Although the impacts and adaptive responses will vary between ecological and geographic systems, climate change is expected to have noticeable detrimental effects: reduced pasture growth and surface water availability; increased competition from woody vegetation; decreased production per head (beef and wool) and gross margin; and adverse impacts on biodiversity. Further research and development is needed to identify the most vulnerable regions, and to inform policy in time to facilitate transitional change and enable land managers to implement those changes.

scholarly journals Risk management for a typical petroleum, oil and gas company in South Africa

2009 ◽  
Vol 6 (4) ◽  
pp. 346-356
Author(s):  
Jacobus Young
Keyword(s):  
Risk Management ◽  
South African ◽  
Oil And Gas ◽  
Management Process ◽  
Management Framework ◽  
Risk Management Framework ◽  
Risk Management Process ◽  
Oil And Gas Companies ◽  
A Company ◽  
Petroleum Oil

Risk management is becoming an important management discipline for most organisations including petroleum, oil and gas companies. However, before risks can actually be managed, it is imperative to ensure that a risk management framework is embedded. This research aims to research the general approach to a risk management process for a typical petroleum, oil and gas company operating in the South African industry and to determine the primary risk types for such a company. The result of this research could serve as an awareness instrument for petroleum, oil and gas industries to support and establish an effective risk management process, while striving to achieve industry and economic objectives. Furthermore, to serve as a working platform for those companies that is still in early stages of developing a practical risk management solution.

scholarly journals Risk Management Framework

2017 ◽  
pp. 229-270
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Management Strategy ◽  
Management Tool ◽  
Risk Management Strategy ◽  
Management Framework ◽  
Risk Management Framework ◽  
External Stakeholders ◽  
Managing Risk ◽  
Good Risk

This chapter examines the adoption of a formal risk management strategy framework in a PPP arrangement. The chapter shows the relevance of risk management as an PPP project management tool. The chapter also reveals how the use of risk management is dependent on relational skills, knowledge of the PPP project activities and experience. Risk management can therefore be seen as both a context-dependent devices and as a technique abstracted from the context. The paper discusses how managing risk can be dealt with in risk's complexity, addressing the expectation of multiple PPP actors and external stakeholders. It is concluded that a good risk management framework must be derived from the risk fundamentals through a clear processes and above all be monitored on a regular basis. This requires proper planning to ensure sustainability of the framework with an inclusion of the varied stakeholders.

scholarly journals Financial Risk Management in SMEs: A New Conceptual Framework

2020 ◽  
Vol 13 (10) ◽  
pp. 85
Author(s):  
René-Pascal van den Boom
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Principal Component ◽  
Two Dimensions ◽  
Financial Risk Management ◽  
Management Framework ◽  
Risk Management Framework ◽  
Risk Manager ◽  
Risk Management Process ◽  
Comprehensive Framework

During the past decades, several risk management models have been developed and implemented. Merely, suitable for large firms. Nowadays, there is still a lack of a comprehensive framework for small and medium-sized enterprises (SMEs). This paper proposes a new conceptual Financial Risk Management framework for SMEs. The framework consists of two dimensions: Risk Management Process and Organizational Structure. Both dimensions contain several components, each component includes one or more items. To calculate scores on different levels Principal Component Analysis (PCA) is used to calculate weighting factors. We add a disparity factor to adjust the final score for an imbalance between dimensions. The educational level of the risk manager is tested positively as a determinant for FRM as well as for the two dimensions. The proposed framework may help individual SMEs evaluate and approve its financial risk management. 

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