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| first line risk management: Enterprise Risk Management in a Nutshell Dennis Cox, 2017-10-26 Risk management is an often-used phrase that is rarely fully embedded within the business process and procedures of firms. This book looks at the challenges faced in implementing a risk management framework as well as the key elements of such a framework. It is designed for the business professional that is not an expert in risk management and addresses all of the major risks that are likely to be faced in practice, considering the risk mitigation and measurement techniques that are most likely to be relevant. This is an intermediate book and accordingly does not focus on the mathematical elements but rather provides a readable entry text for anyone seeking information on this important subject. |
| first line risk management: Enterprise Risk Management James Lam, 2014-01-06 A fully revised second edition focused on the best practices of enterprise risk management Since the first edition of Enterprise Risk Management: From Incentives to Controls was published a decade ago, much has changed in the worlds of business and finance. That's why James Lam has returned with a new edition of this essential guide. Written to reflect today's dynamic market conditions, the Second Edition of Enterprise Risk Management: From Incentives to Controls clearly puts this discipline in perspective. Engaging and informative, it skillfully examines both the art as well as the science of effective enterprise risk management practices. Along the way, it addresses the key concepts, processes, and tools underlying risk management, and lays out clear strategies to manage what is often a highly complex issue. Offers in-depth insights, practical advice, and real-world case studies that explore the various aspects of ERM Based on risk management expert James Lam's thirty years of experience in this field Discusses how a company should strive for balance between risk and return Failure to properly manage risk continues to plague corporations around the world. Don't let it hurt your organization. Pick up the Second Edition of Enterprise Risk Management: From Incentives to Controls and learn how to meet the enterprise-wide risk management challenge head on, and succeed. |
| first line risk management: Interest Rate Risk in the Banking Book PAUL. NEWSON, 2017 |
| first line risk management: The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia Francesco de Zwart, 2022-10-27 This Key Code and Handbook examines the corporate governance and accountability of Major Banks, their directors and executives which were the central focus of bank, Supervisor, Regulator and governmental activity and public scrutiny in 2018 and 2019. This book explores this responsibility focus by providing evidence from the Global Financial Crisis and beyond with both APRA and ASIC investigating illegal conduct, misconduct and conduct which was below the level of community expectations. This book discusses how the Royal Commission into misconduct in the banking and financial services industry has already given rise to a detailed Final Report whose recommendations are still being put into effect. Further, this book uses evidence provided by the large number of Prudential Standards issued by APRA and investigations into the conduct of Major Banks by Regulators. This book explores governance variables – over 1,700 in number and grouped into 159 ‘key groupings’ or separate categories – which are all indexed to 28 governmental, regulatory and supervisory reports and documents to create a governance code and commentary specifically tailored to Australian banks. Each governance variable is modelled on the Stage 1 Relational Approach contained in Enhancing Firm Sustainability Through Governance. Given the huge interest in the governance of banks, Parts 1 and 2 – explaining the Relational Approach - of Stage 1 were recently published in November 2018 and June 2019 in the Australian Journal of Corporate Law. This book is the largest reference book and handbook in publication worldwide containing the structures, mechanisms, processes and protocols – the checks and balances we call ‘governance variables’ – that deeply addresses and explains banking accountability and regulation in Australia. |
| first line risk management: Operational Risk Management Ariane Chapelle, 2019-02-04 OpRisk Awards 2020 Book of the Year Winner! The Authoritative Guide to the Best Practices in Operational Risk Management Operational Risk Management offers a comprehensive guide that contains a review of the most up-to-date and effective operational risk management practices in the financial services industry. The book provides an essential overview of the current methods and best practices applied in financial companies and also contains advanced tools and techniques developed by the most mature firms in the field. The author explores the range of operational risks such as information security, fraud or reputation damage and details how to put in place an effective program based on the four main risk management activities: risk identification, risk assessment, risk mitigation and risk monitoring. The book also examines some specific types of operational risks that rank high on many firms' risk registers. Drawing on the author's extensive experience working with and advising financial companies, Operational Risk Management is written both for those new to the discipline and for experienced operational risk managers who want to strengthen and consolidate their knowledge. |
| first line risk management: Management of Risk , 2002 This guide is intended to help organisations put in place effective frameworks for taking informed decisions about risk. It brings together recommended approaches, checklists and pointers to more detailed information on tools and techniques. The topics covered include: the principles of risk management; how risks are managed; managing risks at the strategic, programme, project and operational level; techniques and examples of the benefits of risk management. The publication draws on the experience of experts from both the private and public sector. |
| first line risk management: Enterprise Risk Management John R. S. Fraser, Betty Simkins, 2010-01-07 Essential insights on the various aspects of enterprise risk management If you want to understand enterprise risk management from some of the leading academics and practitioners of this exciting new methodology, Enterprise Risk Management is the book for you. Through in-depth insights into what practitioners of this evolving business practice are actually doing as well as anticipating what needs to be taught on the topic, John Fraser and Betty Simkins have sought out the leading experts in this field to clearly explain what enterprise risk management is and how you can teach, learn, and implement these leading practices within the context of your business activities. In this book, the authors take a broad view of ERM, or what is called a holistic approach to ERM. Enterprise Risk Management introduces you to the wide range of concepts and techniques for managing risk in a holistic way that correctly identifies risks and prioritizes the appropriate responses. This invaluable guide offers a broad overview of the different types of techniques: the role of the board, risk tolerances, risk profiles, risk workshops, and allocation of resources, while focusing on the principles that determine business success. This comprehensive resource also provides a thorough introduction to enterprise risk management as it relates to credit, market, and operational risk, as well as the evolving requirements of the rating agencies and their importance to the overall risk management in a corporate setting. Filled with helpful tables and charts, Enterprise Risk Management offers a wealth of knowledge on the drivers, the techniques, the benefits, as well as the pitfalls to avoid, in successfully implementing enterprise risk management. Discusses the history of risk management and more recently developed enterprise risk management practices and how you can prudently implement these techniques within the context of your underlying business activities Provides coverage of topics such as the role of the chief risk officer, the use of anonymous voting technology, and risk indicators and their role in risk management Explores the culture and practices of enterprise risk management without getting bogged down by the mathematics surrounding the more conventional approaches to financial risk management This informative guide will help you unlock the incredible potential of enterprise risk management, which has been described as a proxy for good management. |
| first line risk management: Fundamentals of Operational Risk Management Simon Ashby, 2022-04-03 Threats to an organization's operations, such as fraud, IT disruption or poorly designed products, could result in serious losses. Understand the key components of effective operational risk management with this essential book for risk professionals and students. Fundamentals of Operational Risk Management outlines how to implement a sound operational risk management framework which is embedded in day-to-day business activities. It covers the main operational risk tools including categorisation, risk and control self-assessment and scenario analysis, and explores the importance of risk appetite and tolerance. With case studies of major operational risk events to illustrate each concept, this book demonstrates the value of ORM and how it fits with other types of risk management. There is also guidance on the regulatory treatment of operational risk and the importance of risk culture in any organization. Master the essentials and improve the practice of operational risk management with this comprehensive guide. |
| first line risk management: Operational Risk Management Philippa X. Girling, 2013-10-14 A best practices guide to all of the elements of an effective operational risk framework While many organizations know how important operational risks are, they still continue to struggle with the best ways to identify and manage them. Organizations of all sizes and in all industries need best practices for identifying and managing key operational risks, if they intend on exceling in today's dynamic environment. Operational Risk Management fills this need by providing both the new and experienced operational risk professional with all of the tools and best practices needed to implement a successful operational risk framework. It also provides real-life examples of successful methods and tools you can use while facing the cultural challenges that are prevalent in this field. Contains informative post-mortems on some of the most notorious operational risk events of our time Explores the future of operational risk in the current regulatory environment Written by a recognized global expert on operational risk An effective operational risk framework is essential for today's organizations. This book will put you in a better position to develop one and use it to identify, assess, control, and mitigate any potential risks of this nature. |
| first line risk management: Managing Risk in Extreme Environments Duncan Martin, 2008 Taking readers through sophisticated risk management concepts by way of insightful anecdotes and authoritative case studies, this text offers an informative discourse on how risk management works in extreme situations. |
| first line risk management: Credit Risk Management Tony Van Gestel, Bart Baesens, 2009 This first of three volumes on credit risk management, providing a thorough introduction to financial risk management and modelling. |
| first line risk management: Risk Management in Organizations Margaret Woods, 2011 Risk Management in Organizations sets the world of risk management in the context of the broader corporate governance agenda, as well as explaining the core elements of a risk management system. With a detailed array of risk management cases, lecturers and managers will find this a uniquely well researched resource. |
| first line risk management: World-Class Risk Management Norman Marks, 2015-06-13 Considers why many top executives do not link risk management to organisational effectiveness. Examines how risk relates to strategy-setting and identifies each risk management activity. Advises that risk is an integral part of day-to-day management rather than a periodic exercise. |
| first line risk management: The Complete Idiot's Guide to Risk Management Annetta Cortez, 2010-02-02 Manage the risk and maximize the reward! Risk. It's what business is all about. The key to success is to anticipating and managing the risks that can impact business. The Complete Idiot's Guide® to Risk Management provides the key information necessary to manage business risk successfully. • The basic categories of business risk • How to indentify the specific factors that affect any particular business • How to create practical risk models to plan ahead • How to lessen the impact of risk events should they happen • How to profit from strategic risk taking |
| first line risk management: Risk Management Cristina Florio, Monika Wieczorek-Kosmala, Philip Mark Linsley, Philip Shrives, 2022-01-03 This volume offers new, convincing empirical evidence on topical risk- and risk management-related issues in diverse settings, using an interdisciplinary approach. The authors advance compelling arguments, firmly anchored to well-accepted theoretical frameworks, while adopting either qualitative or quantitative research methodologies. The book presents interviews and surveys with risk managers to gather insights on risk management and risk disclosure in practice. Additionally, the book collects and analyzes information contained in public reports to capture risk disclosure and perceptions on risk management impacts on companies’ internal organization. It sheds light on financial and market values to understand the effect of risk management on actual and perceived firm’s performance, respectively. Further, it examines the impacts of risk and risk management on society and the economy. The book improves awareness and advances knowledge on the complex and changeable risk and risk management fields of study. It interweaves among topical, up-to-date issues, peculiar, under-investigated contexts, and differentiated, complementary viewpoints on the same themes. Therefore, the book is a must-read for scholars and researchers, as well as practitioners and policy makers, interested in a better understanding of risk and risk management studies in different fields. |
| first line risk management: Lecture Notes In Risk Management Yevgeny Mugerman, Yoel Hecht, 2023-07-07 Risk management has become one of the key requirements for insightful decision-making. What are risks sources? How are they being managed? This book describes certainty, uncertainty, financial risks, methods of risk mitigation, and risk management.The first chapter of this book represents some milestones in risk management and introduces the main aspects of financial risk management. The following chapters discuss various types of financial risk such as market risk, credit risk, operational risk, liquidity risk, interest rate risk, and other financial risks. The last chapter describes enterprise risk management which binds together all the risks.This book, which is accompanied by PowerPoint presentations, is aimed at lecturers, students, and practitioners with an interest in risk management. The book is the fruit of the authors' long years of work in the field of risk management, serving as a risk management advisor and teaching an MBA-level academic course on the topic for economics and business administration students.Resources are available to instructors who adopt this book. More details at www.worldscientific.com/worldscibooks/10.1142/13297-sm |
| first line risk management: Implementing Enterprise Risk Management James Lam, 2017-03-13 A practical, real-world guide for implementing enterprise risk management (ERM) programs into your organization Enterprise risk management (ERM) is a complex yet critical issue that all companies must deal with in the twenty-first century. Failure to properly manage risk continues to plague corporations around the world. ERM empowers risk professionals to balance risks with rewards and balance people with processes. But to master the numerous aspects of enterprise risk management, you must integrate it into the culture and operations of the business. No one knows this better than risk management expert James Lam, and now, with Implementing Enterprise Risk Management: From Methods to Applications, he distills more than thirty years' worth of experience in the field to give risk professionals a clear understanding of how to implement an enterprise risk management program for every business. Offers valuable insights on solving real-world business problems using ERM Effectively addresses how to develop specific ERM tools Contains a significant number of case studies to help with practical implementation of an ERM program While Enterprise Risk Management: From Incentives to Controls, Second Edition focuses on the what of ERM, Implementing Enterprise Risk Management: From Methods to Applications will help you focus on the how. Together, these two resources can help you meet the enterprise-wide risk management challenge head on—and succeed. |
| first line risk management: Bank Regulation, Risk Management, and Compliance Alexander Dill, 2019-10-01 Bank Regulation, Risk Management, and Compliance is a concise yet comprehensive treatment of the primary areas of US banking regulation – micro-prudential, macroprudential, financial consumer protection, and AML/CFT regulation – and their associated risk management and compliance systems. The book’s focus is the US, but its prolific use of standards published by the Basel Committee on Banking Supervision and frequent comparisons with UK and EU versions of US regulation offer a broad perspective on global bank regulation and expectations for internal governance. The book establishes a conceptual framework that helps readers to understand bank regulators’ expectations for the risk management and compliance functions. Informed by the author’s experience at a major credit rating agency in helping to design and implement a ratings compliance system, it explains how the banking business model, through credit extension and credit intermediation, creates the principal risks that regulation is designed to mitigate: credit, interest rate, market, and operational risk, and, more broadly, systemic risk. The book covers, in a single volume, the four areas of bank regulation and supervision and the associated regulatory expectations and firms’ governance systems. Readers desiring to study the subject in a unified manner have needed to separately consult specialized treatments of their areas of interest, resulting in a fragmented grasp of the subject matter. Banking regulation has a cohesive unity due in large part to national authorities’ agreement to follow global standards and to the homogenizing effects of the integrated global financial markets. The book is designed for legal, risk, and compliance banking professionals; students in law, business, and other finance-related graduate programs; and finance professionals generally who want a reference book on bank regulation, risk management, and compliance. It can serve both as a primer for entry-level finance professionals and as a reference guide for seasoned risk and compliance officials, senior management, and regulators and other policymakers. Although the book’s focus is bank regulation, its coverage of corporate governance, risk management, compliance, and management of conflicts of interest in financial institutions has broad application in other financial services sectors. Chapter 6 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license. |
| first line risk management: Winning With Risk Management Russell Walker, 2013-04-04 This book develops the notion that companies can succeed on the basis of risk management, much as companies compete on efficiency, costs, labor, location, and other dimensions. The reality of risk and how it impacts companies is that it is much more definite, often catastrophic and looks more like a shock. This is striking, as a difference between firms on risk different than a marginal difference in operating efficiencies, for example. Competing on Risk Management requires a discipline, a commitment to using information and recognizing shocks and then acting upon those to redistribute assets. This book will examine how leading firms that compete on risk have done this and showcase best practices and impacts to the capital structure of firms and their organizational formation. |
| first line risk management: International Monetary Fund Annual Report 2023 Financial Statements International Monetary Fund. Secretary's Department, 2023-09-28 The audited financial statements that follow form Appendix VI of the International Monetary Fund’s Annual Report 2023 and can be found, together with Appendixes I through V and other materials, on the Annual Report 2023 web page (www.imf.org/AR2023). They have been reproduced separately here as a convenience for readers. Quarterly updates of the IMF’s Finances are available at www.imf.org/external/pubs/ft/quart/index.htm. |
| first line risk management: Samoa International Monetary Fund. Monetary and Capital Markets Department, 2024-08-09 This report provides an overview of the assistance provided by the IMF to the Central Bank of Samoa on enhancing its risk management in line with international best practices for central banks. |
| first line risk management: Fundamentals of Bank Risk Management Benjamin Lee, 2020-03-10 Banking today has become unduly complex because new forms of risk such as technological, compliance and reputational risks are evolving and growing. They amplify the fundamental risks inherent in any bank – those of credit, market, operational and liquidity. While established concepts and principles of risk management flourish, new prescribed practices such as those of the Basel Committee on Banking Supervision continually unfold over the years. All in all, the discipline can appear complicated to many. Fortunately, there is universal consensus as to what constitutes sound risk management applicable to banks everywhere. Bank regulators and banks themselves are urging that staff, at all levels, should be aware of, and have a working knowledge of, risk management. This book brings together, in a comprehensive package, the essential elements of bank risk management, current practices and contemporary topics such as Basel IV and cyber-attack risk. It offers international cases and examples that are useful to remember. The book concludes with an epilogue on the future of risk management and an 11-page glossary. It will benefit anyone who seeks an overview and basic understanding of risk management in banking. Knowledge gained from this book will also help to give the reader insights into overall bank management. SAMPLE REVIEWS: “This book is very timely as it deals with critical areas of risk with clear explanations and international examples. I strongly recommend it as the basis for training banking executives at all levels and for students interested in risk management.” HASSAN JAFRANI Chief Risk Officer, Asia Pacific IFC, World Bank Group “This is an enjoyable and refreshing read on banks’ risk management. The fundamentals of banking and the definitions and concepts associated with bank risk management are presented in a structured and easy-to-follow format. MARK MCKENZIE Senior Financial Sector Specialist, The South East Asian Central Banks’ Research and Training Centre “... a useful reference tool for bankers everywhere. This is a book that I highly recommend to practitioners and students alike.” DR. MD. AKHTARUZZAMAN Peter Faber Business School, Australian Catholic University A very meaningful endeavour to explain the basics of risk management principles and practices in banking institutions. Written by a senior ex-banker, it provides insightful perspectives using language that is easy to understand. CHOO YEE KWAN Independent Non-Executive Director, HSBC Bank |
| first line risk management: Corporate Governance in India - Challenges Ram K Narayan, 2021-06-11 Foreword note for the book is by Mr. Shailesh Haribhakti, Chartered Accountant - the only Indian to receive the Global Competent Board’s Certification declaring him as ESG ready. He is also a winner of several corporate governance awards including the best Independent Director. He is a fellow of IOD. Unique feature of the book lies in the elaboration of the role of IDs and committees of board; templates for mandatory codes, policies, and reports – both incorporating requirements under SEBI Regulations/Act. Despite India having the best Corporate Governance framework the corporate frauds that keep surfacing underlines that the IDs and Auditors are yet to become independent in letter and spirit. Case of a listed PSU which failed to discharge fiduciary responsibilities leading to end of a good project and loss of huge public funds is also covered in the book. |
| first line risk management: Operational Risk Management in Financial Services Elena Pykhova, 2024-09-03 Technology failures, data loss, issues with providers of outsourced services, misconduct and mis-selling are just some of the top risks that the financial industry faces. Operational risk management is, simply, a commercial necessity. The management of operational risk has developed considerably since its early years. Continued regulatory focus and catastrophic industry events have led to operational risk becoming a crucial topic on any senior management team's agenda. This book is a practical guide for practitioners which focuses on how to establish effective solutions, avoid common pitfalls and apply best practice to their organizations. Filled with frameworks, examples and diagrams, this book offers clear advice on key practices including conducting risk assessments, assessing change initiatives and designing key risk indicators. This new edition of Operational Risk Management in Financial Services also features two new chapters reflecting on the future of operational risk management, from cyber risk to GenAI, and guides practitioners in incorporating ESG into their day-to-day strategies. This is the essential guide for professionals looking to derive value out of operational risk management, rather than applying a compliance 'tick box' approach. |
| first line risk management: Handbook of Compliance & Integrity Management Prof. S.C. Bleker-van Eyk, R.A.M. Houben, 2017-08-25 This handbook is the first resource to provide a scientific analysis of the nature of compliance. It examines the subject from such crucial and varied perspectives as ethics, behavioral science, risk management, accounting, and European and international law. Much more than a critical approach to the existing practice of supervision, it provides a wealth of information, guidance, and valuable insights for the day-to-day work of compliance officers. With chapters contributed by lecturers of VU University Amsterdam’s flourishing post-doctoral Executive Master Program in Compliance and Integrity Management – which fosters alternatives such as greater trust in self-regulation and market discipline – the book explores such aspects of compliance and integrity management as the following: • monitoring risk compliance and integrity; • stakeholder and reputation management; • conflicts of interest; • anti-bribery; • export controls; • extraterritorial jurisdiction of U.S. legislation; • fraud; • duty of care; • market abuse; • privacy; and • competition. The analysis throughout is supported by a comprehensive study of the literature concerning the raison d'être of supervision and regulation. Meeting the need for an in-depth analysis of the expanding field of compliance and integrity management, this book is a milestone in a field that is rapidly growing in importance across a wide spectrum of business and professional activity. It will prove an essential practical resource for company or institutional officers worldwide in setting up a compliance function in their organization. Well known as a consultant in compliance-related matters, Sylvie C. Bleker-van Eyk is currently Senior Director at PricewaterhouseCoopers Forensic Services, Chair of the Supervisory Committee on Monitoring Anti–Money Laundering Policy at WODC, the Research and Documentation Centre of the Netherlands Ministry of Security and Justice, and Professor and Program Director of Postgraduate Education in Compliance and Integrity Management at VU University Amsterdam. Raf A. M. Houben is Head of Compliance and Security at HDI Global SE–The Netherlands in Rotterdam, and program coordinator and lecturer at the same Postgraduate Education in Amsterdam. |
| first line risk management: Operational Risk Management Philippa X. Girling, 2022-02-17 Identify, assess, and mitigate operational risk with this practical and authoritative guide In the newly revised second edition of Operational Risk Management: A Complete Guide for Banking and Fintech, accomplished risk executive and expert Philippa Girling delivers an insightful and practical exploration of operational risk in organizations of all sizes. She offers risk professionals and executives the tools, strategies, and best practices they need to mitigate and overcome ever-present operational risk challenges that impact business in all industries. This latest edition includes: Insight into how operational risk can be effectively managed and measured in today's digital banking age. Updates on the latest regulatory guidance on operational risk management requirements in all aspects of the operational risk framework. Updates on the new Basel II capital modeling methodology for operational risk. New explorations of operational risk events in recent years including the impact of the global Covid-19 pandemic. Updated case studies including large events at Wells Fargo, Credit Suisse and Archegos Capital Management. Ideal for executives, managers, and business leaders, Operational Risk Management is also the perfect resource for risk and compliance professionals who wish to refine their abilities to identify, assess, mitigate, and control operational risk. |
| first line risk management: The Two Headed Coin David Wm. Finnie, James L. Darroch, 2021-04-30 Discover the interplay between strategy and risk in this insightful new resource from two experts in the financial industry who have applied their knowledge to multiple industries In The Two Headed Coin, accomplished authors James L. Darroch and David Wm. Finnie deliver an insightful exploration of the interplay between strategy and risk that underlies the operational framework of successful organizations. You’ll learn which risks are fundamental to the strategic positioning and goals of your organization and which are not. You’ll also discover the importance of an independent risk function, e,g., the CRO, and its invaluable role as part of the strategic process. You’ll also find: A thorough discussion of the notion of competitive advantage and how it relates to risk An exploration of consumer perception and reputation as an asset to be managed How to use scenario planning and real options to provide a framework for managing uncertainty How a focus on culture and ethics can minimize the risk of large losses due to adverse behaviors Perfect for risk management and strategy professionals The Two Headed Coin will also earn a place in the libraries of executives and managers who wish to improve their ability to integrate strategic and risk thinking to create competitive advantage. |
| first line risk management: International Monetary Fund Annual Report 2024 Financial Statements International Monetary Fund. Secretary's Department, 2024-09-24 The audited financial statements that follow form Appendix VI of the International Monetary Fund’s Annual Report 2024 and can be found, together with Appendixes I through V and other materials, on the Annual Report 2024 web page (www.imf.org/AR2024). They have been reproduced separately here as a convenience for readers. Quarterly updates of the IMF’s Finances are available at www.imf.org/external/pubs/ft/quart/index.htm. |
| first line risk management: The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia Francesco de Zwart, 2021-10-12 This Key Code and Handbook examines the corporate governance and accountability of Major Banks, their directors and executives which were the central focus of bank, Supervisor, Regulator and governmental activity and public scrutiny in 2018 and 2019. This book explores this responsibility focus by providing evidence from the Global Financial Crisis and beyond with both APRA and ASIC investigating illegal conduct, misconduct and conduct which was below the level of community expectations. This book discusses how the Royal Commission into misconduct in the banking and financial services industry has already given rise to a detailed Final Report whose recommendations are still being put into effect. Further, this book uses evidence provided by the large number of Prudential Standards issued by APRA and investigations into the conduct of Major Banks by Regulators. This book explores governance variables – over 1,700 in number and grouped into 159 ‘key groupings’ or separate categories – which are all indexed to 28 governmental, regulatory and supervisory reports and documents to create a governance code and commentary specifically tailored to Australian banks. Each governance variable is modelled on the Stage 1 Relational Approach contained in Enhancing Firm Sustainability Through Governance. Given the huge interest in the governance of banks, Parts 1 and 2 – explaining the Relational Approach - of Stage 1 were recently published in November 2018 and June 2019 in the Australian Journal of Corporate Law. This book is the largest reference book and handbook in publication worldwide containing the structures, mechanisms, processes and protocols – the checks and balances we call ‘governance variables’ – that deeply addresses and explains banking accountability and regulation in Australia. |
| first line risk management: Value and Capital Management Thomas C. Wilson, 2015-08-31 A value management framework designed specifically for banking and insurance The Value Management Handbook is a comprehensive, practical reference written specifically for bank and insurance valuation and value management. Spelling out how the finance and risk functions add value in their respective spheres, this book presents a framework for measuring – and more importantly, influencing – the value of the firm from the position of the CFO and CRO. Case studies illustrating value-enhancing initiatives are designed to help Heads of Strategy offer CEOs concrete ideas toward creating more value, and discussion of hard and soft skills put CFOs and CROs in a position to better influence strategy and operations. The challenge of financial services valuation is addressed in terms of the roles of risk and capital, and business-specific value trees demonstrate the source of successful value enhancement initiatives. While most value management resources fail to adequately address the unique role of risk and capital in banks, insurance, and asset management, this book fills the gap by providing concrete, business-specific information that connects management actions and value creation, helping readers to: Measure value accurately for more productive value-based management initiatives and evaluation of growth opportunities Apply a quantitative, risk-adjusted value management framework reconciled with the way financial services shares are valued by the market Develop a value set specific to the industry to inspire initiatives that increase the firm's value Study the quantitative and qualitative management frameworks that move CFOs and CROs from measurement to management The roles of CFO and CRO in financial firms have changed dramatically over the past decade, requiring business savvy and the ability to challenge the CEO. The Value Management Handbook provides the expert guidance that leads CFOs and CROs toward better information, better insight, and better decisions. |
| first line risk management: Security Risk Management - The Driving Force for Operational Resilience Jim Seaman, Michael Gioia, 2023-08-31 The importance of businesses being ‘operationally resilient’ is becoming increasingly important, and a driving force behind whether an organization can ensure that its valuable business operations can ‘bounce back’ from or manage to evade impactful occurrences is its security risk management capabilities. In this book, we change the perspective on an organization’s operational resilience capabilities so that it shifts from being a reactive (tick box) approach to being proactive. The perspectives of every chapter in this book focus on risk profiles and how your business can reduce these profiles using effective mitigation measures. The book is divided into two sections: 1. Security Risk Management (SRM). All the components of security risk management contribute to your organization’s operational resilience capabilities, to help reduce your risks. • Reduce the probability/ likelihood. 2. Survive to Operate. If your SRM capabilities fail your organization, these are the components that are needed to allow you to quickly ‘bounce back.’ • Reduce the severity/ impact. Rather than looking at this from an operational resilience compliance capabilities aspect, we have written these to be agnostic of any specific operational resilience framework (e.g., CERT RMM, ISO 22316, SP 800- 160 Vol. 2 Rev. 1, etc.), with the idea of looking at operational resilience through a risk management lens instead. This book is not intended to replace these numerous operational resilience standards/ frameworks but, rather, has been designed to complement them by getting you to appreciate their value in helping to identify and mitigate your operational resilience risks. Unlike the cybersecurity or information security domains, operational resilience looks at risks from a business-oriented view, so that anything that might disrupt your essential business operations are risk-assessed and appropriate countermeasures identified and applied. Consequently, this book is not limited to cyberattacks or the loss of sensitive data but, instead, looks at things from a holistic business-based perspective. |
| first line risk management: The Handbook of Board Governance Richard Leblanc, 2016-05-16 Build a more effective board with insight from the forefront of corporate governance The Handbook of Board Governance provides comprehensive, expert-led coverage of all aspects of corporate governance for public, nonprofit, and private boards. Written by collaboration among subject matter experts, this book combines academic rigor and practitioner experience to provide thorough guidance and deep insight. From diversity, effectiveness, and responsibilities, to compensation, succession planning, and financial literacy, the topics are at once broad-ranging and highly relevant to current and aspiring directors. The coverage applies to governance at public companies, private and small or medium companies, state-owned enterprises, family owned organizations, and more, to ensure complete and clear guidance on a diverse range of issues. An all-star contributor list including Ram Charan, Bob Monks, Nell Minow, and Mark Nadler, among others, gives you the insight of thought leaders in the areas relevant to your organization. A well-functioning board is essential to an organization’s achievement. Whether the goal is furthering a mission or dominating a market, the board’s composition, strategy, and practices are a determining factor in the organization’s ultimate success. This guide provides the information essential to building a board that works. Delve into the board’s strategic role in value creation Gain useful insight into compensation, risk, accountability, legal obligations Understand the many competencies required of an effective director Get up to speed on blind spots, trendspotting, and social media in the board room The board is responsible for a vast and varied collection of duties, but the singular mission is to push the organization forward. Poor organization, one-sided composition, inefficient practices, and ineffective oversight detract from that mission, but all can be avoided. The Handbook of Board Governance provides practical guidance and expert insight relevant to board members across the spectrum. |
| first line risk management: Mastering Risk Management Tony Blunden, John Thirlwell, 2022-01-13 A practical guide, from the basic techniques, through to advanced applications, showing you what risk management is, and how you can develop a successful strategy for your company. |
| first line risk management: Accounting Information Systems Arline A. Savage, Danielle Brannock, Alicja Foksinska, 2024-01-08 |
| first line risk management: The Practice of Lending Terence M. Yhip, Bijan M. D. Alagheband, 2020-02-25 This book provides a comprehensive treatment of credit risk assessment and credit risk rating that meets the Advanced Internal Risk-Based (AIRB) approach of Basel II. Credit risk analysis looks at many risks and this book covers all the critical areas that credit professionals need to know, including country analysis, industry analysis, financial analysis, business analysis, and management analysis. Organized under two methodological approaches to credit analysis—a criteria-based approach, which is a hybrid of expert judgement and purely mathematical methodologies, and a mathematical approach using regression analysis to model default probability—the book covers a cross-section of industries including passenger airline, commercial real estate, and commercial banking. In three parts, the sections focus on hybrid models, statistical models, and credit management. While the book provides theory and principles, its emphasis is on practical applications, and will appeal to credit practitioners in the banking and investment community alongside college and university students who are preparing for a career in lending. |
| first line risk management: ENTERPRISE RISK MANAGEMENT Framework and tools for adequate risk management in financial institutions Diego Fiorito, 2022-10-17 Enterprise risk management must be closely linked to the strategy to promote compliance with the institution’s mission, vision and objectives. Currently, risks emerge from internal and external sources. Likewise, the different stakeholders demand greater transparency and communication: on the other hand, technology generates a changing business environment, and customer wishes evolve. These situations force institutions to have an adequate risk management framework. In this book, the reader will obtain the appropriate tools to manage the various risks to which a financial institution is exposed. Thus, he will get frameworks, standards, methodology, techniques and tools to be able to identify, evaluate, manage, monitor, communicate and follow up on the risks that could affect the institutions. Comprehensive risk management should not be isolated in one risk area; on the contrary, it must be disseminated across all levels of the organization, allowing for better management. Having three lines of defense for proper management is a must. Permeating a risk culture is required so that people make decisions considering the risk. That employees know the risk appetite of the institutions is vital for that decision making. Enterprise risk management in financial institutions provides us with these vital tools to enhance risk management in institutions, allowing their long-term development and improving the chances of meeting objectives. It provides a comprehensive view of the different risks that could affect organizations and presents specific tools to improve management. |
| first line risk management: AI Strategies For Web Development Anderson Soares Furtado Oliveira, 2024-09-30 From fundamental to advanced strategies, unlock useful insights for creating innovative, user-centric websites while navigating the evolving landscape of AI ethics and security Key Features Explore AI's role in web development, from shaping projects to architecting solutions Master advanced AI strategies to build cutting-edge applications Anticipate future trends by exploring next-gen development environments, emerging interfaces, and security considerations in AI web development Purchase of the print or Kindle book includes a free PDF eBook Book Description If you're a web developer looking to leverage the power of AI in your projects, then this book is for you. Written by an AI and ML expert with more than 15 years of experience, AI Strategies for Web Development takes you on a transformative journey through the dynamic intersection of AI and web development, offering a hands-on learning experience.The first part of the book focuses on uncovering the profound impact of AI on web projects, exploring fundamental concepts, and navigating popular frameworks and tools. As you progress, you'll learn how to build smart AI applications with design intelligence, personalized user journeys, and coding assistants. Later, you'll explore how to future-proof your web development projects using advanced AI strategies and understand AI's impact on jobs. Toward the end, you'll immerse yourself in AI-augmented development, crafting intelligent web applications and navigating the ethical landscape.Packed with insights into next-gen development environments, AI-augmented practices, emerging realities, interfaces, and security governance, this web development book acts as your roadmap to staying ahead in the AI and web development domain. What you will learn Build AI-powered web projects with optimized models Personalize UX dynamically with AI, NLP, chatbots, and recommendations Explore AI coding assistants and other tools for advanced web development Craft data-driven, personalized experiences using pattern recognition Architect effective AI solutions while exploring the future of web development Build secure and ethical AI applications following TRiSM best practices Explore cutting-edge AI and web development trends Who this book is for This book is for web developers with experience in programming languages and an interest in keeping up with the latest trends in AI-powered web development. Full-stack, front-end, and back-end developers, UI/UX designers, software engineers, and web development enthusiasts will also find valuable information and practical guidelines for developing smarter websites with AI. To get the most out of this book, it is recommended that you have basic knowledge of programming languages such as HTML, CSS, and JavaScript, as well as a familiarity with machine learning concepts. |
| first line risk management: Risk Management Handbook Federal Aviation Administration, 2012-07-03 Every day in the United States, over two million men, women, and children step onto an aircraft and place their lives in the hands of strangers. As anyone who has ever flown knows, modern flight offers unparalleled advantages in travel and freedom, but it also comes with grave responsibility and risk. For the first time in its history, the Federal Aviation Administration has put together a set of easy-to-understand guidelines and principles that will help pilots of any skill level minimize risk and maximize safety while in the air. The Risk Management Handbook offers full-color diagrams and illustrations to help students and pilots visualize the science of flight, while providing straightforward information on decision-making and the risk-management process. |
| first line risk management: The Simple Rules of Risk Erik Banks, 2003-03-14 In an age where companies and financial institutions are keenly focused on managing the financial risk of their operations, the implementation of quantitative methods and models has been of tremendous help. Tools such as VaR, credit VaR, risk-adjusted returns, and scenario analyses have given institutions the means to quantify and understand their risk profiles. However, the focus on quantitative risk management, while important, can sometimes be over-emphasized--at the expense of logic and experience. At its core, the successful management of risk is still largely an art. The Simple Rules of Risk takes a fresh look at the qualitative aspects of risk management. It also considers how qualitative approaches can make optimal use of the mathematical aspects of risk management to create the most effective framework possible. |
| first line risk management: Life Insurance Risk Management Essentials Michael Koller, 2011-05-04 The aim of the book is to provide an overview of risk management in life insurance companies. The focus is twofold: (1) to provide a broad view of the different topics needed for risk management and (2) to provide the necessary tools and techniques to concretely apply them in practice. Much emphasis has been put into the presentation of the book so that it presents the theory in a simple but sound manner. The first chapters deal with valuation concepts which are defined and analysed, the emphasis is on understanding the risks in corresponding assets and liabilities such as bonds, shares and also insurance liabilities. In the following chapters risk appetite and key insurance processes and their risks are presented and analysed. This more general treatment is followed by chapters describing asset risks, insurance risks and operational risks - the application of models and reporting of the corresponding risks is central. Next, the risks of insurance companies and of special insurance products are looked at. The aim is to show the intrinsic risks in some particular products and the way they can be analysed. The book finishes with emerging risks and risk management from a regulatory point of view, the standard model of Solvency II and the Swiss Solvency Test are analysed and explained. The book has several mathematical appendices which deal with the basic mathematical tools, e.g. probability theory, stochastic processes, Markov chains and a stochastic life insurance model based on Markov chains. Moreover, the appendices look at the mathematical formulation of abstract valuation concepts such as replicating portfolios, state space deflators, arbitrage free pricing and the valuation of unit linked products with guarantees. The various concepts in the book are supported by tables and figures. |
THE THREE LINES OF DEFENSE IN EFFECTIVE RISK …
In the Three Lines of Defense model, management control is the fi rst line of defense in risk management, the various risk control and compliance over-sight functions established by …
First Line Risk Basics Mike Kennedy - thefirma.org
Covers major risks that a financial institution faces and how those risks are measured, monitored, managed, and reported.
THE IIA S THREE LINES MODEL - The Institute of Internal …
The language of “first line,” “second line,” and “third line” is retained from the original model in the interests of familiarity. However, the “lines” are not intended to denote structural elements but …
Navigating Changing Dynamics of First Line Risk and Control …
An organization’s overall risk governance framework and the resulting interaction across the three lines of defense are critical to business success. The first line’s main objective is to understand …
Basel Committee on Banking Supervision Consultative …
Through the publication of this document, the Committee desires to promote the effectiveness of operational risk management throughout the banking system. The Committee believes that the …
Building Your Defenses: Compliance Management for First …
An established 1LOD CMS is better able to proactively identify, monitor, and control risk more effectively on a real-time basis because first-line staff have firsthand knowledge of the …
The Benefits of First- and Second-Line Monitoring - Crowe LLP
These shifts in risk management and compliance strategy are good for the customer in terms of service and experience. However, they are also beneficial for organizations since a more agile …
Risk Management Framework - Options Clearing Corporation
The risk inherent in OCC’s clearing and settlement services is managed by the first line of defense, which is responsible for owning and managing risks by maintaining policies, …
SVB and Credit Suisse: The Case for Strong First-Line Risk …
Originally known as the Three Lines of Defense, the central premise in the model is that management, as the first line of defense, isn’t trained or required to formally assess and report …
Session 3C: First Line, Second Line, Third Line? Whose Line is it …
Joanna has provided risk management solutions including designing ERM and Operational Risk programs, governance reviews, executive risk communication & reporting guidance, rating …
Reimagining the first line of defense’s role in bank regulatory …
“First line of defense” refers to the front ofice (or the bank’s primary revenue-generating functions) and represents the core group of individuals responsible for the prudent day-to-day …
Risk in review - PwC
Today a collaborative approach to risk management with risk accountability sitting squarely in the first line of defence can be the key to greater organisational resiliency and growth. That means …
The three lines of defence model of tomorrow - PwC
Business line (first line of defence), in many cases, still expects the second line to identify and present them with a report that outlines the risks in their business, rather than take full …
Managing risk from the front line - International Association …
Companies excelling today have intuitively grasped that risk management must be shifted to the first line of defence—specifically the business units that undertake those risks.
“First Line of Defense” Testing - thefirma.org
When discussing first line of defense (LOD) testing, it’s important to understand how the three lines are organized and fit into an organization’s risk management structure. First Line of …
Are we using weak first line risk governance? - Risk Oversight …
In 2012, Article 41 of a paper titled Guidance on the 8th Company Law Directive, issued by the Institute of Internal Auditors, proposed the three lines of defence framework, using the diagram …
The IIA’s Three Lines Model
However, responsibility for managing risk remains a part of first-line roles and within the scope of management.
Modernizing the three lines of defense model
on shifting ownership of certain elements of risk management to the first and second lines through education and awareness-building, highlighting the value and efficiencies that can be achieved.
Three Lines of Defence: No More D in 3LOD
Creating a meaningful, value-added and commercial risk management structure involves a combination of contributory factors, which range from very complex, such as getting the …
FIRMA National Conference Optimizing the 2nd Line of Defense
The 2nd line of defense is formed by the Risk Management Organization (RMO) and provides independent risk management oversight and guidance to the 1st line across the enterprise.
THE THREE LINES OF DEFENSE IN EFFECTIVE RISK …
In the Three Lines of Defense model, management control is the fi rst line of defense in risk management, the various risk control and compliance over-sight functions established by …
First Line Risk Basics Mike Kennedy - thefirma.org
Covers major risks that a financial institution faces and how those risks are measured, monitored, managed, and reported.
THE IIA S THREE LINES MODEL - The Institute of Internal …
The language of “first line,” “second line,” and “third line” is retained from the original model in the interests of familiarity. However, the “lines” are not intended to denote structural elements but …
Navigating Changing Dynamics of First Line Risk and Control …
An organization’s overall risk governance framework and the resulting interaction across the three lines of defense are critical to business success. The first line’s main objective is to understand …
Basel Committee on Banking Supervision Consultative …
Through the publication of this document, the Committee desires to promote the effectiveness of operational risk management throughout the banking system. The Committee believes that the …
Building Your Defenses: Compliance Management for First …
An established 1LOD CMS is better able to proactively identify, monitor, and control risk more effectively on a real-time basis because first-line staff have firsthand knowledge of the …
The Benefits of First- and Second-Line Monitoring - Crowe LLP
These shifts in risk management and compliance strategy are good for the customer in terms of service and experience. However, they are also beneficial for organizations since a more agile …
Risk Management Framework - Options Clearing Corporation
The risk inherent in OCC’s clearing and settlement services is managed by the first line of defense, which is responsible for owning and managing risks by maintaining policies, …
SVB and Credit Suisse: The Case for Strong First-Line Risk …
Originally known as the Three Lines of Defense, the central premise in the model is that management, as the first line of defense, isn’t trained or required to formally assess and report …
Session 3C: First Line, Second Line, Third Line? Whose Line …
Joanna has provided risk management solutions including designing ERM and Operational Risk programs, governance reviews, executive risk communication & reporting guidance, rating …
Reimagining the first line of defense’s role in bank regulatory …
“First line of defense” refers to the front ofice (or the bank’s primary revenue-generating functions) and represents the core group of individuals responsible for the prudent day-to-day …
Risk in review - PwC
Today a collaborative approach to risk management with risk accountability sitting squarely in the first line of defence can be the key to greater organisational resiliency and growth. That means …
The three lines of defence model of tomorrow - PwC
Business line (first line of defence), in many cases, still expects the second line to identify and present them with a report that outlines the risks in their business, rather than take full …
Managing risk from the front line - International Association of ...
Companies excelling today have intuitively grasped that risk management must be shifted to the first line of defence—specifically the business units that undertake those risks.
“First Line of Defense” Testing - thefirma.org
When discussing first line of defense (LOD) testing, it’s important to understand how the three lines are organized and fit into an organization’s risk management structure. First Line of …
Are we using weak first line risk governance? - Risk …
In 2012, Article 41 of a paper titled Guidance on the 8th Company Law Directive, issued by the Institute of Internal Auditors, proposed the three lines of defence framework, using the diagram …
The IIA’s Three Lines Model
However, responsibility for managing risk remains a part of first-line roles and within the scope of management.
Modernizing the three lines of defense model
on shifting ownership of certain elements of risk management to the first and second lines through education and awareness-building, highlighting the value and efficiencies that can be achieved.
Three Lines of Defence: No More D in 3LOD
Creating a meaningful, value-added and commercial risk management structure involves a combination of contributory factors, which range from very complex, such as getting the culture …
FIRMA National Conference Optimizing the 2nd Line of Defense
The 2nd line of defense is formed by the Risk Management Organization (RMO) and provides independent risk management oversight and guidance to the 1st line across the enterprise.
