#operational risk management

[situasi-id]

Situasi ID - Operational risk, a term often bandied about in financial circles, encompasses a multitude of challenges that institutions face in their day-to-day operations. Let's delve into the intricacies of operational risk and explore its dimensions.

#operational risk management #management #business #business growth #succession #entrepreneur #marketing #services #branding

[itechgrc]

Operational Risk Management in US

Welcome to the iTech GRC blog, your go-to source for all things related to Operational Risk Management in the United States. In today's fast-paced business environment, organizations face a myriad of challenges that can impact their operational efficiency and financial stability. At iTech GRC, we understand the importance of proactively managing operational risks to ensure the resilience and success of your business.

Introduction to Operational Risk Management (ORM):

Operational risk refers to the potential for loss resulting from inadequate or failed internal processes, systems, people, or external events. iTech GRC specializes in providing comprehensive solutions for Operational Risk Management, helping organizations identify, assess, and mitigate potential risks that could hinder their operations.

The iTech GRC Approach:

Our team at iTech GRC is dedicated to helping businesses develop and implement effective Operational Risk Management strategies. We believe in a proactive approach that involves:

Risk Identification: Understanding the landscape of potential risks is the first step. We work closely with organizations to identify both internal and external factors that may pose a threat to their operations.

Risk Assessment: Once identified, iTech GRC employs robust risk assessment methodologies to evaluate the potential impact and likelihood of each risk. This allows businesses to prioritize their focus on the most critical areas.

Mitigation Strategies: Our experts collaborate with clients to develop tailored mitigation strategies. These strategies may include process improvements, technology enhancements, and employee training to minimize the likelihood and impact of identified risks.

Continuous Monitoring and Reporting: Operational risks are dynamic and can evolve over time. iTech GRC advocates for continuous monitoring and reporting to ensure that businesses are equipped to adapt to changing circumstances and emerging risks.

Industry Insights and Best Practices:

Stay up-to-date with the latest industry insights and best practices in Operational Risk Management. iTech GRC provides regular updates on regulatory changes, emerging risks, and innovative solutions to keep your organization ahead of the curve.

Success Stories and Case Studies:

Learn from the experiences of businesses that have successfully implemented iTech GRC's Operational Risk Management solutions. Our case studies showcase real-world examples of organizations overcoming challenges and achieving operational excellence through effective risk management.

Interactive Learning and Training:

Explore our interactive resources and training materials designed to enhance your team's understanding of operational risk. iTech GRC believes in empowering organizations with the knowledge and skills needed to navigate the complex landscape of operational risk.

At iTech GRC, we are committed to helping businesses in the United States build resilience and achieve sustainable success through effective Operational Risk Management. Stay tuned for regular updates, insights, and practical tips to strengthen your organization's risk management framework.

#ORM #orm services #operational risk management

[logicalnivesh]

Why is risk management essential in the financial world?

In the financial world, risk is inseparable from return. Financial risk management occurs when an investor analyses the potential for losses in an investment and takes the appropriate action depending on the investment objectives and risk tolerance.

What is risk management?

Risk management identifies, assesses, and controls strategic, financial, security, and legal risks of an organization’s capital. These risks can arise from multiple sources like legal liabilities, accidents, economic uncertainties, natural disasters, strategic management errors, technology risk management, etc.

In the financial world, risk is inseparable from return. Financial risk management occurs when an investor analyses the potential for losses in an investment and takes the appropriate action depending on the investment objectives and risk tolerance.

In the financial world, investing is essential while keeping in mind its repercussions and the techniques of risk management. Trading with proper planning results in excellent and profitable returns; for that to happen, financial risk management holds a prominent place in the entire journey.

Five steps of the risk management process

The risk management process involves a series of steps for effective management. This framework includes five basic steps, which are listed below –

Risk identification – The initial step is to identify the exact type of risk for the business to take apt measurements. There are many threats, like environmental, regulatory, legal, market, etc.

Analyze the risk – After identifying the risk, the risk’s scope must be determined to place the focus points. Risk analysis also helps highlight the common issues that cause such risk situations.

Risk assessment – Before taking any action, one needs to prioritize and rank the level of risk depending on its severity. Risk assessment allows exposure to a holistic view of risks to an organization. Risk can be assessed based on two types – qualitative and quantitative.

Risk treatment – Once the risk priorities have been set, it’s time to eliminate them with definite strategies and proper execution. This is best done by contacting the experts of that particular risk type. If you are looking for any financial risk experts focusing on investments, trade, the stock market, etc., our SEBI registered research analyst Ashutosh Bhardwaj and his Logical Nivesh team will help you find an effective solution. 

Risk monitoring – Keeping a constant check on risks and their solutions is essential to maintain efficiency. Some risks cannot be eliminated, primarily financial and environmental. Therefore, monitoring them with an expert’s advice helps find accurate solutions to reduce their impact.

Financial risk management strategies

Managing financial risk is essential for individuals and companies to operate productively within the economy and the financial system.

Risk avoidance – It involves avoiding the activities that end up in risk formation. For example, eliminating the use of credit for any purchases.

For corporates, activities like expanding operations in areas with high political uncertainty, etc., are a way to eliminate risk.

Risk transfer – It means transferring your risks to a third party. For example, purchasing a life insurance policy to avoid the risk of premature death.

Business risk management can be done by purchasing insurance on their property and transferring the risk of damage to the insurer.

Risk reduction – For individuals, diversifying your investment portfolio reduces the risk of potential losses and saves you from portfolio downfall.

Corporations can hedge foreign currency transactions to reduce exposure to currency fluctuations.

Risk retention involves accepting your responsibility for any particular risk after risk identification. For example, individuals do not insure their property consciously, or corporations deliberately get volatile input costs without insurance.

Financial risk management types

There are four types of financial risks that financial experts have to consider while proposing investment strategies.

Operational risk management is the indirect or direct loss caused by inadequate or failed internal processes, systems, or external events. It includes many risk types like environmental, legal, physical, and security. These are not revenue driven and can be managed within acceptable risk tolerance levels.

Foreign exchange risk management – When a financial transaction is made in a currency different from the businesses’ operating money due to unfavorable exchange rates between the two.

Credit risk management – A credit risk is experienced when borrowers default on their outstanding payments. Other factors, such as increased collection costs, loss of interest, etc., determine the extent of credit risk. Credit risk management solutions involve purchasing insurance, a debt guarantee by a third party, running a credit check, or holding assets as collateral.

Reputational risk management – Loss of financial capital from damage to an organization’s reputation is called reputational risk. It can even lead to bankruptcy. However, a proper financial risk management course from expert financial advisors can help eliminate such risks. Our Logical Nivesh team is happy to help you with the same.

#finance #financial #Financial risk management #investment research #logical nivesh #Operational risk management #Risk assessment #Risk avoidance #risk management #Risk reduction #Risk retention #security #strategies

[davidnelsoncfa]

Operational Risk Management 2023 - Portfolio Go No Go Checklist!

#ORM 2023 - $SPY Go No Go Checklist - Heed the immortal words of Sergeant Phil Esterhous "Let's be careful out there" #economy #Fed $gld $tlt #ukraine #putin #china

By David Nelson, CFA AMTAll branches of the military use ORM or their own Operational Risk Management system. It’s an imperative before launching any mission and commonly used by pilots in making go no go decisions. We identify the risks even those with low probability and make a quantitative judgement as to the feasibility of the mission and or flight. Investors need to do their own due…

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#David Nelson CFA #Fed Funds Rate #GLD #Operational Risk Management #Putin #SPY #terminal rate #The Money Runner #TLT #Ukraine

[shielfc]

Specialized Risk Identification Team | Risk And Compliance

According to the "Two Horizon Model" horizon scanning requires the internal creation of a specialized risk identification team tasked with translating legal and regulatory risks in response to every new global regulatory change. Check out this infographic and visit our website to gather more information on risk management compliance. Visit: https://bit.ly/3Q1LHIe

#operational risk management #risk management compliance #risk compliance #security and compliance #risk and compliance #legal and regulatory risks

[news24future]

#the insight partners #operational risk management #risk management #artificial intelligence #fintech

[alandavis1105]

#the insight partners #operational risk management #risk management #artificial intelligence #fintech

[im-a-goat-in-disguise]

Oh my fucking god I just saw a video of a Russian soldier surrendering to a Ukrainian drone and being led to their trenches.. he made it alive... Oh god too many emotions 🥺🥺🥺

#like imagine being in that situation #basically forced into fighting for something you don't believe in #then the people who are supposed to be your enemy offer a way out - surrender #even though you are only one person out of the thousands attacking #they still risk their drone and their own trenches to give you the chance to escape #your trying to hide stealthily as you run back because you know you're probably not getting a second chance #being led away from certain death by a flying beast... i think that counts as an angel #and props to the drone operator for managing to communicate with the soldier #this is the kinda universal respect for other humans in hard situations that makes me want to cry... #happy crying though. tears of joy and hope #ask to tag

[thethingything]

we went from "wow I'm drawing so much and have so many ideas" to once again getting art block which like, okay fair enough, I'll deal with it, but it's still frustrating

#personal #thoughts #🍬 post #vent post #<- it's not a serious vent but still #I managed to do a lot of drawing though and I'll probably at least be able to do LV week stuff #I've actually had a break and not drawn much for the last few days because we were like ''hmm let's not risk getting burnt out'' #and the minute we took a break both our motivation and inspiration just kinda vanished #I have ideas for some little doodles and stuff that I might end up working on #plus I'll probably end up focusing more on making stuff for LV week #because I think our brain freaked out a little bit the minute we tried to draw unfamiliar characters for Art Fight afhgjk #so maybe working on stuff with familiar characters might make it co-operate a little bit more and stop feeling as weird #still not sure why our brain gets so weird about drawing characters we don't normally draw but oh well. it is what it is

[garymdm]

Location Intelligence: A GPS for Smarter Decisions in Insurance

The insurance industry thrives on understanding risk. But what if you could go beyond basic information and truly grasp the spatial context of your data? That’s where location intelligence comes in, acting as a powerful GPS for insurers navigating the complexities of risk assessment, claims handling, and overall operational efficiency. Pinpointing Risks with PrecisionSharper Risk Assessments &…

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#data quality #insurance #location intelligence #operational efficiency #risk management

[safetycourses2022]

#𝐄𝐎𝐒𝐇 - 𝗨𝗞 𝗛𝗮𝘇𝗮𝗿𝗱 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝐂𝐨𝐮𝐫𝐬𝐞𝐬 #Award in Hazard Identification & Risk Assessment (HIRA) #Award in Hazardous Waste Operations and Emergency Response (HAZWOPER) Training #Award in HAZOP Leader #Award in HAZOP Leadership and Management #Award in HAZOPs for Engineers & Technicians #Award in HAZOP-Train the Trainer #Award in HAZWOPER -Train the Trainer #Award in Work Permits Receiver #Contact Us: #Mob: #[phone] #Email: #[email protected] #Web: #www.cosmostrg.com #WhatsApp Channel : #https://whatsapp.com/channel/0029VaHMYayGufJ45OH4Xo1n #WhatsApp Group : #https://chat.whatsapp.com/IunhDueyuLsEPc9SkB7dlK #eoshcourses #eoshcourse #eosh #eoshuk #Hazard #hazardmanagement #hazardidentification #riskassessment #hazardouswaste #hazardtraining

[alewaanewspaper1960]

أثر إدارة المخاطر على ربحية البنوك الإسلامية في قطاع غزة

أثر إدارة المخاطر على ربحية البنوك الإسلامية في قطاع غزة   أثر إدارة المخاطر على ربحية البنوك الإسلامية في قطاع غزة The impact of risk management on the profitability of Islamic banks in the Gaza Strip الكاتب : دكتور منتصر . استاذة ندي . استاذة سهى الملخص: تمحورت مشكلة الدراسة في الإجابة عن السؤال الرئيس: ما أثر إدارة المخاطر على ربحية البنوك الإسلامية؟، وانطلاقاً من ذلك هدفت الدراسة إلى توضيح…

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#Risk Management – Profitability of Islamic Banks – Disclosure – Operational Risk – Credit Risk #إدارة المخاطر – ربحية البنوك الاسلامية-الافصاح-مخاطر التشغيل-مخاطر الائتمان

[amereid1960]

أثر إدارة المخاطر على ربحية البنوك الإسلامية في قطاع غزة

أثر إدارة المخاطر على ربحية البنوك الإسلامية في قطاع غزة   أثر إدارة المخاطر على ربحية البنوك الإسلامية في قطاع غزة The impact of risk management on the profitability of Islamic banks in the Gaza Strip الكاتب : دكتور منتصر . استاذة ندي . استاذة سهى الملخص: تمحورت مشكلة الدراسة في الإجابة عن السؤال الرئيس: ما أثر إدارة المخاطر على ربحية البنوك الإسلامية؟، وانطلاقاً من ذلك هدفت الدراسة إلى توضيح…

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#Risk Management – Profitability of Islamic Banks – Disclosure – Operational Risk – Credit Risk #إدارة المخاطر – ربحية البنوك الاسلامية-الافصاح-مخاطر التشغيل-مخاطر الائتمان

[arthropooda]

I pretty much got blamed for the pizza thing even tho we were not told what to do and had never been in that situation before. I was just trying to make sure everything went the way it usually does in the absence of the administrator or any actual instructions. I was told "this can't happen again" twice which is bizarre to me because, why and how could it ever happen again?

So I take that to mean if I fuck up again it will be really bad for me. My coworker stood up for me, which I appreciate. I knew the admin didn't care why it happened because she knows she didn't tell us she was ordering the pizzas and in fact she specifically said we would be "reimbursed" but we didn't know she was just talking about plates. She also said to ask the director but he was teaching a class and it was less than an hour from when the kids had their lunch break. The previous administrator was very clear with instructions and specifically did not want classes disturbed for our questions, which was just how I learned to operate before this year.

Last night I was trying to decide how to prevent something else from going wrong in the future, which is really impossible, but the best strategy I can come up with is unfortunately to go to the director, who is also a teacher, with questions instead of the administrator whose job it actually is to supervise/administrate the management of students. I'm not happy about that and I don't even think it will definitely keep me from doing the wrong thing in her view but I don't know what else to do. Until this happened, I thought she was a fantastic administrator, but I guess management is hard and it's easier to blame the people under your management for your mistakes. Obviously I know I was wrong about what I did, but I also think it's wrong not to accept it as a learning experience and take mutual responsibility for the problem when it's her first year and I've been working there for six years and never had a situation like this before. I can and have explained exactly why I thought and did what I did, but we got no similar explanation or accountability from her. Basically I feel like if she makes a mistake I am involved with, I will get blamed as if I should have known, in addition to being judged more harshly for any mistakes which are entirely my own fault.

#Work #Management #Responsibility #Idk #If it seems like I'm not taking responsibility that is not it #I thought not making sure the day went as it was supposed to would be not taking responsibility #And I can and did take responsibility for that #I thought that was my job at this point but I guess not #Now I just feel like doing anything extra would be a risk so #That's going to change the way I operate #Anyway #So much anxiety about this #Wall of text #Vents and rants

[shielfc]

Operational Risk Management Explained By Shield

Operational risk management is the process of recognizing, analyzing, and accepting (or reducing) uncertainty in investment decisions. Read the complete article to know more about the types of risks in financial institutions and visit our website to explore the services. Visit now!

#operational risk management #risk management compliance #risk compliance #security and compliance #risk and compliance #legal and regulatory risks

[news24future]

#the insight partners #operational risk management #risk management #artificial intelligence #fintech