Banks have also developed teams responsible for credit risk control. The main responsibility of such teams is to ensure that the credit risk being faced by the bank is greatly reduced HSBC , pr 4. The main type of risk assessed is normally environmental risk Barclays , pr 5. The banks also ensure that the way the document information is in line with the prescribed standards HSBC , pr This was agreed after the liquidity of banks raised during the global economic recession Barclays , pr 5.
After the recession most of the players in the industry agreed that liquidity is something to be considered when it comes to risk management Barclays , pr 5.
During the global economic recession, the market was highly volatile but the volatility has reduced in recent times HSBC , 6.
However, the impact of this high market volatility is one that cannot be forgotten, this has therefore made it an issue of the top management so as to ensure the bank is prepared when such a situation occurs in the future HSBC , pr 6.
HSBC has set up objectives with regard to the risk posed by mortgages, foreign exchange and other market risks that the company faces HSBC , pr 6. The market risk management team works in accordance with the acceptable risk that has been set HSBC , pr 6.
This type of risk emerges in the trading collections, the process of monitoring and analyzing interest risk is very difficult since it involves making assumptions and using historical data to make a judgment or a forecast Anglo Irish Bank It is the wish of every financial institution to greatly reduce its interest risks; therefore most banks have made monitoring of interest risk a day to day activity for the risk management teams Anglo Irish Bank This is the form of risk that emerges as a result of the changes in the value of currencies.
It is therefore important for the banks to develop foreign exchange policies that will go hand in hand with their risk management policies and customer requirements since the customer is the boss HSBC This is also referred to as credit spread risk. This arises as a result of changes in the value of certain debt items, changes in the value is attributed to the change in the credit worthiness o0f the asset in question HSBC , pr 4.
Therefore it is not a shock that banks have made the management of reputational risk an issue of top management. This is also important because of the ease of lost of trust in the banking industry Ernst and Young The board of governors and members of the top management of most banks have realized the aspect of risk management to be a key management tool Ernst and Young The management has also established that risk appetite is one of the key risk management tools HSBC , pr 8.
Banks need to reduce their risk level by forecasting their position with regard to risk in the coming years, the most effective way of doing this is analyzing the risks which have a great impact on the organization and are less probable to occur. The figure below shows where the responsibility of risk management lies in banks Ernst and Young Risk governance is a form of responsibility that starts from the top management and goes down the hierarchy of authority systematically to the lower level managers, the main participants in this process include the following HSBC , pr 8.
The board of directors: Initially, the main task of the board of directors with regard to risk management was to oversee the process of risk management and ensure that rational decisions are made to ensure that there is reduced risk HSBC , pr 8.
However, after the recession, the board of governors have participated more in the process of risk management, this includes being involved in the setting of accepted risk level by the bank. The board also approves risk parameters set by other participants of risk appetite governance HSBC , pr 8.
The main aim of the risk management committee is to increase the task of monitoring risks in the organization Ernst and Young The committee keeps track of the level of risk that the company is facing currently and the acceptable risk level set by the company HSBC , pr 8.
The chief executive officer is responsible for coordinating with the board of directors in creating risk management procedures and communicating to other parties in the organization any policies set by the board with regard to risk management City University , pr 8.
The chief executive officer is also responsible for ensuring that the set risk appetite is enforced throughout the organization Bozzolan , p The chief risk officer: The chief risk officer is responsible of identifying any malfunction between the set strategy and the ongoing operations Ernst and Young The business unit leaders are also faced with the responsibility of ensuring that once they receive the acceptable risk level parameters, that all provisions and escalation triggers are in line with the set parameters Ernst and Young Independent risk management and control groups: In the event of a breach, they have the power to order for the review of certain risk management policies Ernst and Young Despite the fact that banks have tried to come up with mechanisms of risk management, there are still more initiatives being conducted to devise more effective risk management strategies and polices Bozzolan , p The main focus areas of such initiatives is to develop more effective technology and reporting formats so as to improve the process of risk reduction most of the banks in the united kingdom are still developing w2ays to come up with effective risk mitigation teams and systems Ernst and Young The following are the main three procedures used by banks in the United Kingdom to improve their risk management strategies Ernst and Young The top management, shareholders, board of governors are now receiving information about risks in the organization that is more complete, detailed and presents the actual case scenario on the ground with regard to risk, this can be considered as a step further compared to the previous forms of risk reporting Ernst and Young The management reports received shows more clear data unlike the previously known ambiguous way of risk reporting.
Once a clearer and better mechanism of delivering information about risks by the various organization departments, then the organization will start considering increasing the quickness in which such reports are generated City University , pr This is one of the biggest challenges that the company executives are facing i.
Many banks in the United Kingdom have established that the process of risk management is not a difficult task but, the process of analyzing and compiling the risk management reports in a way that can be easily understood and used for decision making is one of the difficult tasks Ernst and Young Most of the companies have resolved not to completely rely on past information and assumptions.
However, members of the senior management have established that the use of complex forecasting methods may become hard for the management to understand, this will make such information hard to use for decision making Bozzolan , p The current most commonly used forecasting model is one which considers future planning by putting into consideration results which are less probable to occur but have a very high impact n the business Ernst and Young Most banks are still developing technology that will complement the risk management teams in the process of developing risk management policies and procedures so as to make the process of risk management in banks more efficient All business , pr Most bank executives have come up with ways which new technology will be applied to support the process of risk management All business , pr However, the main challenge is how to implement the most effective technological platforms Bozzolan , p The cost of incorporating information technology in the process of risk management is very high and therefore most banks in the United Kingdom are addressing the challenge posed by information technology from different angles All business Some of the banks are developing trail projects which are still being tested; other banks are organizing information technology activities in certain risk management systems whereas other are using information technology to address problems arising in their present risk management systems All business , pr As banks in the United Kingdom keep on enjoying market stabilization, Chief executives are experiencing an increase in the costs they incur in their quest to improve their management systems so as to survive the economic recession All business , pr The costs are also incurred in line when it comes to developing new policies and procedures that will assist in the process of risk management All business , pr After the recession, the reporting needs in banks has greatly increased due to more and more policies being witnessed in the industry City University , pr 5.
To match with the growing policy needs, the companies are coming up with new management systems, improving technology and reviewing their information systems, all these represent a lot of costs to the company City University , pr The banks are also incurring costs with regard to ensuring that the balance sheet reflects a better financial position after the disaster caused by the recession Barlett , p There has been increased needs in the banks to hire personnel with more knowledge when it comes to risk management and forecasting Bozzolan , p This greatly shows how the issue of risk management has escalated costs in the United Kingdom banks City University , pr 5.
The new costs are not only being incurred with regard to acquiring new manpower and designing specialized teams to deal with certain crises in the organization but also costs are being incurred by the organizations in their struggle to improve their management information system, improve reporting mechanisms and develop new technology to assist in new tasks such as risk forecasting and management Ernst and Young However the executives are not expecting any cost reduction.
The figure below shows the statistic carried out by Ernst and young about how costs are expected to rise due to increased operations in the business because of the changed attitude towards risk.
This is a trend which is going to see banks dedicate almost half of their resources towards risk management. It is now apparent that financial institutions need to come up with a strategic plan of the risks that they are facing now and the ones that they are expecting to face in the future Ernst and Young The organizations need to have a good forecast of what is in store for them.
The governments have tried to come up with regulations to govern the financial sector but the global economy is still uncertain City University , pr The banks should therefore identify the main types of risks that they are facing and expect to face, measure the probability of the risk occurring and also have the knowledge of the impact such a risk is going to have on the organization in the event that it occurs City University , pr5.
This can only be done through a thorough assessment of the current risk management position, management attitude towards risk and the acceptable risk level in the organization City University , pr Chapter3 Research design and methodology: Research methodology is one of the most important areas, which helps in making the research sound and effective in the eyes of the researchers.
With the help of this methodology, accurate information is being gathered for the selected research topic. Research methodology is considered to be an important part of the research work as it helps in generating specific answer to the research question. A sound and informative platform is provided to the researcher, which enables him to conduct the research in an effective manner. Without the research methodology, the researcher is not able to conduct the research in an efficacious manner and somewhere or the other the research will loose its importance.
A perfect research methodology is one which has a blueprint of the research and contains ample amount of information for the researcher to read and understand. The information focuses on some key areas, which are; what is to be done, time at which the research has to be carried out, and how it will be carried out.
Through this systematic information, research is carried out in a pre-determined fashion. For the researcher to have a reliable research, it is evident that a strong and viable research methodology has to be carried out. I cannot thank them enough to help out at the last minute and deliver the work in the short deadline. My paper was on psychology and I was short on deadline. So I opted for 6DollarEssay.
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The last thing a student would want is his money being misused by people. The people at 6DollarEssay. It would be nice if topic is in the sector of Bank and Finance or Risk Management. Basel framework; operational risk; risk management ; risk indicators In a document issued in by the Basel Committee of Banking the present study attempts to provide empirical evidence to support these.
Risk Management In the dissertation , case study method will be used because it will help in nbsp; Problems of Evaluation and Management of Operational Risks in Banks in regional bank: Seminar is intended to help Students address their Dissertations which Financial risk assessment in Bank G or in a global company H.
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Most banks are still developing technology that will complement the risk management teams in the process of developing risk management policies and procedures so as to make the process of risk management in banks more efficient (All business , pr 10).
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