Risk Assessment of Core Banking System Replacement based on ISACA Framework

2014 ◽  
Vol 1 (1) ◽  
pp. 35-45
Author(s):  
Fenty Simanjuntak ◽  
Bobby Suryajaya
Keyword(s):  
Risk Assessment ◽  
Banking System ◽  
Residual Risk ◽  
Project Teams ◽  
Third Party ◽  
Project Delivery ◽  
Business Growth ◽  
Regulatory Requirements ◽  
The Core ◽  
Medium Risk

Many banks are looking for a better core banking system to support their business growth with a more efficient and flexible core banking system to improve their sales and services in the competitive market and to fulfill regulatory requirements. The decision of replacing the legacy core banking system is difficult due to the high IT investment cost required for banks because they are also trying to cut costs. But maintaining the legacy system is costly in terms of upgrade. Changing the core banking system is also a difficult process and increases risks. To have a successful Core Banking System implementation, risk assessment is required to be performed prior to starting any activities. The assessment can help project teams to identify the risks and then to mitigate the risks as part of the plan. In this research the Core Banking System replacement risks were assessed based on ISACA Framework for IT Risk. Fourteen risk scenarios related to Core Banking System Replacement were identified. The high and medium rated inherent risks can become medium and low residual risk after assessment by putting the relevant control in place. The result proves that by adding mitigation plan it will help to mitigate the Residual Risk to become low risk. There are still three residual risk which categorized as medium risk and should be further mitigated they are Software Implementation, Project Delivery and Selection/Performance of Third Party Suppliers. It is also found that COBIT 5 has considered some specific process capabilities that can be used to improve the processes to mitigate the medium risks.

scholarly journals HAZARDS IDENTIFICATION AND RISK ASSESSMENT OF PHYSICAL AND MECHANICAL FACTORS OF FORKLIFT OPERATIONAL IN PT SINAR INDOGREEN KENCANA AAC PRODUCTION AREA’S

2018 ◽  
Vol 2 (1) ◽  
pp. 20
Author(s):  
Elya Maula Imro’atul Khasanah ◽  
Erwin Dyah Nawawinetu
Keyword(s):  
Risk Assessment ◽  
Low Risk ◽  
Residual Risk ◽  
Observational Research ◽  
Risk Level ◽  
Potential Hazard ◽  
Daily Production ◽  
Logistics Industry ◽  
Medium Risk ◽  
Hazard And Risk

Background: Forklift is one of the most used craning plane in the manufacture and logistics industry. The operational of forklift can cause fatality work accident. PT SIGK uses forklift in the daily production activities, so it is necessary to identify hazard and risk assessment. Purpose: This study was to identify and assess the risk of physical and mechanical hazard at every stage of forklift operation. Methods: The type of this research was descriptive observational research, the object of the study were potential hazard and risk of all forklift operation stages in the AAC production area, consisted of 4 stages which were initial inspections stage, operational preparation stage, operational stage and post operations stage. Results: The result showed that there were 25 hazards, which were 4 hazards at the initial inspections stage, 2 hazards at the operational preparations stage, 14 hazards at the operational stage and 5 hazards at the post operations stage. Initial risk assessment obtained 2 hazards with high risk level, 22 hazards with medium risk level and 1 hazard with low risk level. The most prevalent hazard controls performed by PT SIGK were administrative (SOP, for klift training, safety sign) and PPE (helmet, gloves, mask), the controls got the value of effectiveness between 50% to 75%. Residual risk assessment, obtained 5 hazards with medium risk level and 20 hazards with low risk level. Conclusion: Additional control should be done by the company to reduce the residual risk level of medium category to be low, if the control recommendation is implemented well then the overall level of residual risk with low category will be obtained.

scholarly journals HEALTH RISK ASSESSMENT IN UTILITY AREA IN PT PERTAMINA LUBRICANT PRODUCTION UNIT GRESIK

2020 ◽  
Vol 15 (2) ◽  
pp. 224
Author(s):  
Ardhini Nugrahaeni
Keyword(s):  
Risk Assessment ◽  
Health Risk ◽  
Health Risk Assessment ◽  
Risk Control ◽  
Low Risk ◽  
Residual Risk ◽  
Production Unit ◽  
Primary Data ◽  
Potential Hazard ◽  
Medium Risk

Health Risk Assessment (HRA) is one part of risk assessment. In the utility area at PT Pertamina Lubricant Production Unit of Gresik use a machines that have impact on health noise and temperature hazards. The aim of this study was to identify health risk assessment in the utility area at PT Pertamina Lubricant Production Unit Gresik. This was an observational descriptive study with cross sectional design. This study uses total population of 9 people consist of 1 supervisors Health Safety Enviroment (HSE), 3 HSE officer, and 5 workers. Primary data obtained from interviews, observations, noise and temperature measurements. Secondary data were got in the documents from the company. The collected data were assessed as likelihood and severity to count the risk. Afterward risk control assessed and residual risk is calculated. The results of this study showed that there were 3 steps of work with 6 potential hazard noise and temperature. The risk assessment has levels of risk medium risk and low risk. Medium risk was found in the boiler monitoring and compressor. Low risk was found in the stage of preparing CNG gas and turning on the machines. Control effectiveness is 75%. Residual risk has a low risk and no risk. It can be concluded that the potential hazard in the utility area was noise. Most of the risk found in this area was categorized as low risk. Risk control was properly implemented. If the recommendation of control properly implemented there will be no residual risk. The suggestions given are monitoring the implementation of controls, fit to work, use of PPE, socialization of the use of PPE, giving reward and punishment to motivate workers to safe behavior at workKeyword: health risk assessment, utility area, PT Pertamina Lubricant Production Unit Gresik

scholarly journals Risk Assessment at the Plate Production Unit (PPL) of PT. INKA (Persero)

2021 ◽  
Vol 10 (3) ◽  
pp. 316
Author(s):  
Monalisa Ma'rifat ◽  
Atiya Thifal Rofifa ◽  
Tri Martiana
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
High Risk ◽  
Hazard Identification ◽  
Residual Risk ◽  
Production Unit ◽  
Risk Level ◽  
Risk Levels ◽  
Safety And Health ◽  
Medium Risk

Introduction: The plate manufacturing production unit is one of the work units in PT. INKA (Persero), which involves the interaction between humans and machines in its activities, heavy equipment, and materials, all of which can cause possible hazard impacts that can impact the safety and health of workers. The purpose of this study is to conduct risk assessment on occupational safety and health aspects by identifying risks, assessing risks, identifying control efforts and assessing residual risk as a form of efforts to prevent occupational accidents and occupational diseases, using existing resources effectively and efficiently. Method: This research is a type of qualitative research, through interviews and observations, with cross-sectional studies and descriptive analysis. The interviewees for this study were K3LH management managers, steel managers, and machine operators in the plate production unit (PPL). The tools in this study werean interview guide, Job Safety Analysis (JSA) and Hazard Identification Risk Assessment Determining Control (HIRADC) using the AS / NZS 4360: 2004 Risk Management Worksheet Standard Risk Matrix. Results: From the research, it was found that there are 94 hazards for 11 different machines. Regarding the risk levels, there are 9 extreme risk levels, 46 high risk levels, 33 medium risk levels and 6 low risk levels. Conclusion: There are still 61 risks with medium risk level and 6 remaining risks with high risk level that still need control. Control efforts have been implemented by PT. INKA (Persero) in accordance with the hierarchy of control, such as the use of PPE and the provision of work SOPs. Keywords: hazard identification, risk management, risk assessment, risk control, residual risk 

scholarly journals RISK ASSESSMENT ON INSTALL AND DISMANTLE SCAFFOLDING USING TASK RISK ASSESSMENT METHOD

Tibuana ◽  
2019 ◽  
Vol 2 (02) ◽  
pp. 9-13
Author(s):  
Talitha Cornelia Azura
Keyword(s):  
Risk Assessment ◽  
Assessment Method ◽  
Low Risk ◽  
Residual Risk ◽  
Job Description ◽  
Risk Assessment Method ◽  
Medium Risk

Accidents can occur anytime and anywhere such as accidents that occur at work at height. This study aims to identify and analyze potential hazards in the install and dismantle scaffolding work using TRA (Task Risk Assessment) method. The results of the risk assessment using TRA on this work obtained four job description with 2 jobs at low risk, namely initial risk of 4 and after controlling for residual risk of 2. For install and dismantle scaffolding show that medium risk was obtained with an initial risk of 12 and after controlling, the residual risk becomes 9.

Comparison of SCORE and Reynolds cardiovascular risk assessments in a cohort without cardiovascular disease

2013 ◽  
Vol 154 (43) ◽  
pp. 1709-1712 ◽  
Author(s):  
Csaba Móczár
Keyword(s):  
Cardiovascular Disease ◽  
Risk Assessment ◽  
Cardiovascular Risk ◽  
Screening Program ◽  
Risk Group ◽  
Scoring Systems ◽  
High Risk Group ◽  
Risk Assessments ◽  
Gender And Age ◽  
Medium Risk

Introduction: Cardiovascular risk assessment may help in the identification of symptom-free subjects with high cardiovascular risk. Aim: The author studied the correlation between SCORE and Reynolds risk assessment systems based on data from the cardiovascular risk screening program carried out in subjects without cardiovascular disease. Method: Data obtained from 4462 subjects (1977 men and 2485 women; mean age, 47,4 years) were analysed. The comparison was based on risk categories of the SCORE system. Results: There was a strong correlation between the two scoring systems in the low risk population (under <2% SCORE risk the Spearman rho = 1, p < 0.001). A weak correlation was found in the medium risk group (between 3–4% the Spearman rho = 0.59–0.49, p < 0.001 and between 10–14% the Spearman rho = 0.42, ns.) and a stronger correlation in the high risk group (>15% the Spearmen rho = 0.8, p = 0.017). When correlations were analysed in gender and age categories, the weakest correlation was detected in medium risk women over 40 years of age. In cases when the differences between the two scoring systems were significant, the hsCRP levels were significantly higher (4.1 vs. 5.67 mg/L, p < 0.001). Conclusions: Introduction of hsCRP into cardiovascular risk assessments can refine the risk status of symptom-free subjects, especially among intermediate risk middle-age women (two-step risk assessment). Orv. Hetil., 154 (43), 1709–1712.

Aplication of Quantitative and Qualitative Methods in Risk Management of Credit Portfolio in the Conditions of the Banking System of the Republic of Tajikistan

2013 ◽  
Vol 8 (3) ◽  
pp. 249-268
Author(s):  
Basgul Fajzullohonovna Isupova
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Qualitative Methods ◽  
Banking System ◽  
Potential Losses ◽  
The Republic ◽  
Credit Portfolio ◽  
Quantitative And Qualitative Methods ◽  
Coefficient Method

In this article, an analysis of the fundamental methods of risk assessment and risk management of credit portfolio is conducted. In particular, complex and qualitative methods of risk management of credit portfolio studied in details, namely analytical, statistical and coefficient methods. Based on the coefficient method the author proposes a number of standards for the assessment of potential losses in credit activity. 

scholarly journals Biological risk assessment: A challenge for occupational health and safety practitioners during the COVID-19 (SARS-CoV-2) Pandemic

Work ◽  
2021 ◽  
pp. 1-11
Author(s):  
Carlos Carvalhais ◽  
Micaela Querido ◽  
Cristiana C. Pereira ◽  
Joana Santos
Keyword(s):  
Risk Assessment ◽  
Occupational Safety ◽  
Assessment Method ◽  
Occupational Safety And Health ◽  
Risk Level ◽  
Biological Risk ◽  
Occupational Risks ◽  
Qualitative Risk Assessment ◽  
Safety And Health ◽  
Medium Risk

BACKGROUND: The COVID-19 global pandemic brought several challenges to occupational safety and health practice. One of these is the need to (re)assess the occupational risks, particularly, biological risks. OBJECTIVE: The purpose of this work is to promote guidance to occupational safety and health practitioners when conducting a biological risk assessment in this context. METHODS: The main steps of the biological risk assessment are explained with some inputs regarding the novelty posed by SARS-CoV-2 and an example of a qualitative risk assessment method is presented. Also, its application to two different activities was exemplified. RESULTS: In both cases, the assessment considered that vulnerable workers were working from home or in medical leave. The results showed low or medium risk level for the assessed tasks. For medium risk level, additional controls are advised, such maintain social distancing, sanitize instruments/equipment before use, use proper and well-maintained PPE (when applicable), and promote awareness sessions to spread good practices at work. Employers must be aware of their obligations regarding biological risk assessment and OSH practitioners must be prepared to screen and link the abundance of scientific evidence generated following the outbreak, with the technical practice. CONCLUSIONS: This paper could be an important contribution to OSH practice since it highlights the need to (re)assess occupational risks, especially biological risk, to ensure a safe return to work, providing technical guidance.

scholarly journals Research on Blockchain-Based E-Bidding System

2021 ◽  
Vol 11 (9) ◽  
pp. 4011
Author(s):  
Dan Wang ◽  
Jindong Zhao ◽  
Chunxiao Mu
Keyword(s):  
Data Transmission ◽  
Privacy Protection ◽  
Graph Isomorphism ◽  
Third Party ◽  
Business Logic ◽  
Core Concept ◽  
The Core ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Bidding Process

In the field of modern bidding, electronic bidding leads a new trend of development, convenience and efficiency and other significant advantages effectively promote the reform and innovation of China’s bidding field. Nowadays, most systems require a strong and trusted third party to guarantee the integrity and security of the system. However, with the development of blockchain technology and the rise of privacy protection, researchers has begun to emphasize the core concept of decentralization. This paper introduces a decentralized electronic bidding system based on blockchain and smart contract. The system uses blockchain to replace the traditional database and uses chaincode to process business logic. In data interaction, encryption techniques such as zero-knowledge proof based on graph isomorphism are used to improve privacy protection, which improves the anonymity of participants, the privacy of data transmission, and the traceability and verifiable of data. Compared with other electronic bidding systems, this system is more secure and efficient, and has the nature of anonymous operation, which fully protects the privacy information in the bidding process.

Third-party funding na arbitragem contra Estados: a relativização da imunidade executória na execução da sentença arbitral contra Estados

2019 ◽  
Vol 1 (1) ◽  
pp. 203-234
Author(s):  
Ana Monteiro ◽  
Daniel Ferreira
Keyword(s):  
United States ◽  
Risk Assessment ◽  
Asset Pricing ◽  
The United States ◽  
Third Party ◽  
State Immunity ◽  
The United Kingdom ◽  
Domestic Legislation ◽  
Current Context ◽  
Party Funding

The purpose of this article is to assess the risk for preventing the execution of arbitral awards made against Sovereign States due to the State’s immunity shield. Given the importance of an accurate asset pricing in the business of third-party funding (TPF), the topic entails a particular relevance to the current context of globalized litigation in light of its contribution to the promotion of TPF at the international arbitration community. After reviewing the literature on TPF, on the peculiarities of investment and commercial arbitrations against States and on the evolution of State immunity (also in terms of domestic legislation, considering the local laws passed by the United States, the United Kingdom and Australia), the article aims explore how the funder should incorporate into its risk assessment the risk of not executing awards rendered against Sovereign States.

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