Risk Management Articles

Latest risk management articles to help you better understand the complex world of Risk management. If you would like to submit your articles of interest, do write to manoj.jain@riskpro.in and we will surely include your articles in this section.


Fraud Risk Management: Article 1

Fraud is defined as any intentional act committed to secure an unfair or unlawful gain. So, before we start the discussion, one key point to note is that fraud is INTENTIONAL. Whether the event results in consequential loss, is a different story all together.

There are many frauds that do take place, but they mainly result in unlawful and personal gain, but not necessarily result in excessive financial losses. Examples of these include secret associations with vendors, suppliers for goods and services at fair market prices, but with personal gains and favors.

What framework do we use to implement Enterprise Risk Management

There is often the haunting question regarding ERM. And it is not whether the project will ever kick off or ever finish. It is how to start it, what methdology to use that will ensure success. Our team has put together an "ERM Perspective" that gives you a start in the right direction. Enterprise Risk Management, a project using COSO's framework.

Happy reading.

Operational Risk: How to save your business from bankruptcy

So, you already know that Operational Risk is the new risk category that is taking the world by storm. BUt what can you do about it to save your business or your company.

We share with you some secrets on what can be done to help you weather the storm. The five best things you can do for your firm.

1. Conduct an enterprise level risk assessment of key risks which also include operational risks. Having an idea of what risks you run makes a big difference in managing them.

Tools to manage Risk

The software industry is flooded with automated solutions for risk management. They come under various labels such as ERM software, ORM software, Basel II, GRC solutions etc. But what everever be the nature of the underlying concept, the common thing is that they are able to provide something more than what you currently have.

Lets take an example. ERM solution provides a dashboard of all key risks, the risk profiling and the risk appetite of the organisation. Now, although such information can be summarised by company staff, the software helps to do this through automated links.

Reputation Risk Management - Part 1 of 10

Effective Reputation Risk management is the ultimate key in surviving. Today, money is made by branding, reputation and similarly, it is lost due to bad reputation and poor branding.

So, how does one manage reputation risk. To start of this discussion, we have split the content in 10 parts, each part takeing up one way to manage the risk.

Listen to your customers

What does Risk Management mean today

If I ask you the question what does Risk Management mean today, people are often confused as to whay is risk management diffferenet today than in the past.

Well, the answer to this is that risk is really very different today than in the past. If you thought frauds was a risk, in the past you would just take a few meaures, put a few policies in place and start monitoring. today, you will do much more, you will ensure that proper monitoring takes place, staff accountability is in place etc.

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