Global IT Risk Management Strategies

2011 ◽  
pp. 67-93
Author(s):  
Chrisan Herrod
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Best Practice ◽  
New Technologies ◽  
Management Strategies ◽  
Regulatory Compliance ◽  
It Risk Management ◽  
Reputational Risk ◽  
Risk Management Strategies ◽  
It Risk

This chapter describes why it is important for organizations to develop and implement an IT risk management function and use best practice risk assessment methodologies that provide a standard to measure and assess risk within organizations. Information technology risk management is a significant new function that can help companies achieve world class IT service. IT risk management includes regulatory compliance, information security, disaster recovery, and project risks. IT risk management should be part of a company’s risk management strategy on an equal footing with financial risk management and reputational risk management. As the complexity of IT infrastructures increases and as businesses continue to rely upon the Internet as the communication backbone for e-business, the associated risks increase. For these reasons, deciding upon and implementing a risk management process and a standard methodology will greatly reduce the risks associated with the introduction of new technologies that support the mission of the business.

Global IT Risk Management Strategies

2008 ◽  
pp. 285-298 ◽  
Author(s):  
Chrisan Herrod
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Best Practice ◽  
New Technologies ◽  
Management Strategies ◽  
Regulatory Compliance ◽  
It Risk Management ◽  
Reputational Risk ◽  
Risk Management Strategies ◽  
It Risk

This chapter describes why it is important for organizations to develop and implement an IT risk management function and use best practice risk assessment methodologies that provide a standard to measure and assess risk within organizations. Information technology risk management is a significant new function that can help companies achieve world class IT service. IT risk management includes regulatory compliance, information security, disaster recovery, and project risks. IT risk management should be part of a company’s risk management strategy on an equal footing with financial risk management and reputational risk management. As the complexity of IT infrastructures increases and as businesses continue to rely upon the Internet as the communication backbone for e-business, the associated risks increase. For these reasons, deciding upon and implementing a risk management process and a standard methodology will greatly reduce the risks associated with the introduction of new technologies that support the mission of the business.

scholarly journals A stochastic dominance approach to financial risk management strategies

2015 ◽  
Vol 187 (2) ◽  
pp. 472-485 ◽  
Author(s):  
Chia-Lin Chang ◽  
Juan-Ángel Jiménez-Martín ◽  
Esfandiar Maasoumi ◽  
Teodosio Pérez-Amaral
Keyword(s):  
Risk Management ◽  
Stochastic Dominance ◽  
Financial Risk ◽  
Management Strategies ◽  
Financial Risk Management ◽  
Risk Management Strategies

scholarly journals FINANCIAL RISK MANAGEMENT STRATEGIES AND THE GROWTH OF MICROFINANCE SECTOR IN KENYA

2017 ◽  
Vol 2 (1) ◽  
pp. 23-53
Author(s):  
Dr. James Rurigi Njuguna ◽  
Prof. Roselyn Gakure ◽  
Dr. Anthony Gichuhi Waititu ◽  
Dr. Paul Katuse
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Management Practices ◽  
Management Strategies ◽  
Credit Risk Management ◽  
Financial Risk Management ◽  
Risk Management Strategies ◽  
External Sources ◽  
Internal Sources ◽  
The Relationship

Purpose: The purpose of this study was to investigate how financial risk management strategies lead to growth of MFI sector in Kenya.Methodology: The study adopted a correlation survey research design. The population of this study was fifty seven (57) MFIs. The sampling frame was the list of MFIs provided in the AMFI website www.amfikenya.com. A sample of thirteen (17) MFIs was selected using the random sampling approach. A questionnaire and an interview schedule were the main data collection tools. Qualitative data was analyzed using content analysis whereas the quantitative data was analysed using Statistical Package for Social Sciences (SPSS) where descriptive and regression analysis were conducted to determine the relationship between enterprise risk management strategies and growth of MFIs.Findings: The findings indicated that MFIs had effective financial risk management strategies such as effective credit risk management practices, liquidity risk management practices, interest risk management practices and price risk management practices. In particular, MFIs took into consideration the conditions, characters, capacity, collateral and capital of borrowers. Strict debt collection practices were widely adopted by MFIs. In addition, the concept of Know Your Customer (KYC) policy, seem to have been adopted by MFIs. The relationship between financial risk management strategies and growth was positive and significant. It also shown that sources of funds for MFIs include external sources and internal sources and the most frequently used source of funds are bank loans. The use of banks loans may present various risk exposures to MFIs, the most significant being interest rate risk. However, the ability of MFIs to source funds from various sources indicates that MFIs can apply the pecking order by first exploiting internal sources of funds since they present a lower financial risks and then move on to external sources. However, despite the financial risk exposure accompanied by leverage from external sources, MFIs may also benefit as they may experience higher growth driven by the leverage. It was also found that MFIs had put in place a number of good practices that had emerged to promote responsible and inclusive lending. These include loan size limits, standardized (simple) loan terms, zero tolerance on delinquency, group-based lending. This finding implies that MFIs have put in place effective credit risk management policies which are part of an overall financial risk management strategy. The existence of effective financial risk management practices may have influenced the growth of MFIsUnique contribution to theory, practice and policy: The study recommends that the MFIs to continue practicing effective financial management practices as this would improve the growth of MFIs.

scholarly journals Investment Risk Management

2019 ◽  
Vol 7 (4) ◽  
pp. 36-41
Author(s):  
T S Divya ◽  
A M Viswambharan
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Management Strategies ◽  
Market Condition ◽  
Investment Risk ◽  
Fund Managers ◽  
Starting Point ◽  
Financial Investments ◽  
Risk Management Strategies ◽  
Management Controls

Investment Risk Management is the process of identifying possible risks in the investment and analysing them well in advance and to take necessary steps to prevent them.  In case of businesses when they make financial investments, they do risk management so efficiently, so that they can identify the potential economic risks, their impacts and ways to overcome them.  Risk management takes place when an investor or fund manager quantifies of the potential losses and takes necessary actions to tackle the risk involved in the investment.  The purpose of this paper is (i) To study the various steps involved in the process of investment risk management. (ii) To understand the importance of investment risk management. (iii) To identify the principles that guides the investment risk management and (iv) To know the different ways and strategies to manage the risk. Financial Risk Management controls the entire investment game. This paper provides a starting point for investors or fund managers to establish their own risk management strategies.  Investment Risk Management teaches how to make more by risking less.  Investment risk management is the secret behind safe and consistent profits making in any market condition.

When a patient complains

2019 ◽  
Vol 15 (7) ◽  
pp. 324-327
Author(s):  
David Croser
Keyword(s):  
Risk Management ◽  
Communication Skills ◽  
Best Practice ◽  
Dental Treatment ◽  
Management Strategies ◽  
Previous Issue ◽  
Risk Management Strategies

In the second of the two-part CPD paper, David Croser offers readers a checklist to help keep the management of complaints in-house Aim Part 1 was published in the previous issue of Dental Nursing. It discussed why people might complain about their dental treatment and how the dental team should respond. When read together, these two articles will: Update an understanding of a CPD topic recommended by the General Dental Council Objectives To describe communication skills that support best practice complaints management To understand the risk management strategies behind the steps involved in handling a complaint To understand the benefits of an informal in-house practice complaints procedure so patients can raise issues at an early opportunity.

Kendala Manajemen Risiko Teknologi Informasi Pada Kasus Skimming ATM Bank X

2019 ◽  
Vol 10 (1) ◽  
pp. 107-120
Author(s):  
Wahyu Firmandani ◽  
M. Malik
Keyword(s):  
Risk Management ◽  
Risk Evaluation ◽  
Best Practice ◽  
Risk Governance ◽  
Risk Awareness ◽  
Risk Response ◽  
It Risk Management ◽  
Study Approach ◽  
Governance Risk ◽  
It Risk

Abtract. The purpose of this study is to analyze the IT risk management constraints resulting in the appearance of Bank X ATM ATMs to anticipate similar events. The research method used in this study is qualitative with case study approach to deeply explore the constraints faced by Bank X in accordance with best practice RiskIT Framerowk by considering the three domains namely Risk Governance, Risk Evaluation, and Risk Response. The conclusions of this study are that Bank X has implemented IT risk management in accordance with the RIskTI Framework but there are still some weaknesses in governance processes, evaluation processes and the response processes, that are the MR Functional hierarchy and culture risk awareness, alignment of enterprise risk evaluation processes with risk based on audit processes, and constraints on the magnetic strip card migration process.Keywords. ATM (Authomatic Teller Machine), RiskIT Framework, Risk Management Constraints. Abstrak. Tujuan penelitian ini adalah menganalisis kendala manajemen risiko TI yang mengakibatkan munculnya kasus skimming ATM Bank X untuk mengantisipasi kejadian serupa tidak terjadi lagi. Metode penelitian yang digunakan dalam penelitian ini adalah kualitatif dengan pendekatan studi kasus untuk menggali secara mendalam kendala yang dihadapi Bank X sesuai dengan best practice RiskIT Framerowk dengan mempertimbangkan ketiga domain yakni Risk Governance, Risk Evaluation, and Risk Response. Kesimpulan dari penelitian ini adalah Bank X telah menerapkan manajemen risiko TI sesuai dengan RIskTI Framework namun masih terdapat beberapa kelemahan pada proses tata kelola, pemanfaatan perangkat manajemen risiko operasional dan tindaklanjut (respon) atas kasus skimming ATM Bank X, yakni pada hierarki Fungsi MR dan budaya risk awareness, keselarasan proses evaluasi risiko perusahaan dengan risk based pada proses audit, dan kendala pada proses migrasi kartu magnetic strip. Kata Kunci: ATM (Authomatic Teller Machine), Framework RiskIT, Kendala Manajemen Risiko.

scholarly journals RISK MANAGEMENT STRATEGIES AND PERFORMANCE OF SMALL SCALE AGRIBUSINESS FIRMS IN KIAMBU COUNTY

2017 ◽  
Vol 1 (1) ◽  
pp. 85
Author(s):  
Samson Ondiek ◽  
Dr Stephen Muathe
Keyword(s):  
Risk Management ◽  
Management Strategy ◽  
Financial Risk ◽  
Management Strategies ◽  
Primary Data ◽  
Small Scale ◽  
Risk Management Strategy ◽  
Inferential Statistics ◽  
Risk Management Strategies ◽  
And Performance

Purpose: This study sought to establish the risk management strategies and performance of small agribusiness firms in Kiambu County.Methodology: The study employed descriptive research design. The population of the study was 11,120 small agribusinesses businesses (SME) in Kiambu County. The selection was done in random manner ensuring that all types of firms are considered. This was achieved through stratified random sampling. Data of the list of firms and type was obtained from the County office in-charge of industrialization. The study used both primary data. Primary data was gathered by use of closed ended questionnaires, which was self-administered. A multiple linear regression model was used to test the significance of the influence of the independent variables on the dependent variable. Data was analyzed mainly by use of descriptive and inferential statistics. SPSS was used to produce the descriptive and inferential statistics. Descriptive statistics included mean, and standard deviation. Inferential statistical techniques included correlation and regression analysis.Results: The study findings indicated that financial risk management strategy, operational risk management strategy, human resource risk management strategy, regulatory risk management strategy and disaster risk management strategy affected organizational performance. The study indicated that keeping previous record enables to forecast future risks, financial distress affects performance, keeping informed of various risks reduces the risk of poor performance and that having contingent measures to reduce financial risks improves the organizational performance.Unique contribution to theory, practice and policy: The study recommends that it is important for a company to reduce the volatility of earnings or cash flows due to financial risk exposure as the reduction enables the firm to perform better forecasts.

When a patient complains

2019 ◽  
Vol 15 (6) ◽  
pp. 282-283
Author(s):  
David Croser
Keyword(s):  
Risk Management ◽  
Communication Skills ◽  
Best Practice ◽  
Management Strategies ◽  
Patient Complaints ◽  
Risk Management Strategies ◽  
Development Outcomes

In the first of a two-part CPD paper, David Croser considers why patients complain and how the dental team should respond Aim Part 2 will be published in the next issue of Dental Nursing. It provides a checklist to help deal with patient complaints in-house. When read together, these two articles will: Update an understanding of a CPD topic recommended by the General Dental Council Objectives To describe communication skills that support best practice complaints management To understand the risk management strategies behind the steps involved in handling a complaint To understand the benefits of an informal in-house practice complaints procedure so patients can raise issues at an early opportunity This article relates to GDC development outcomes A and D

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