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.


Data Mining: A powerful value add to clients

Today, apart from traditional way of analysis through analytical procedures as mentioned in our auditing standards, certain other tools are needed to assist us in providing our services and maintain usefulness. Data mining is one of such device that counts up the audit/consultancy worth by revealing the hidden information, which otherwise would not have been known. It can also prove the management assertions wrong.

To read on, please click on the link below to read the full article.

Risk Management in Insurance Industry

Insurance companies are in the business of taking risks. Worldwide these companies write policies that deal with specific risks, and in many cases, even underwrite exotic risks. As a direct corollary, therefore, insurance companies should be good at managing their own risks. However the truth is a little far from that! Most insurance companies are very good at assessing insurance risks but are not very good at setting up structures in their own home to manage their own operating and business risks

UBS Fraud: Trainee Hire costs one month salary, but USD 2 billion on exit

A trainee by the name of Kweku Adoboli joined UBS Bank in 2006. Just like any other trainee, he wanted to learn about the thick jungle of Financial Markets, Capital Markets, Trading, Derivatives and the like. He was ambitious, yet a novice when he joined.

Question at this point. We will read on to answer these.
1.Does UBS hire only the best when comes to recruitment
2.Does the Bank ensure that the recruitment policies and processes are adequate to ensure that good, honest, hard working people are introduced in the organisation?

Governance Risk and Compliance in Financial Services Industry

The global credit crisis has highlighted the significance of governance, risk and controls in the financial services industry. The aim of this article is to list the challenges faced by the financial services industry, define the goals and objectives of their risk management initiatives and note the trends prevalent in this sector.

Useful ERM Links

Risk Management in India

RBI's regulations for Wealth Management Cos - Will they be enough!

The Citibank fraud has been so deep and unique that it has got the Indian regulators think far and beyond. The RBI, SEBI and other regulators have been contemplating to regulate the rapidly growing wealth management industry, but for some reason or the other did not get to it.

With the Citi fraud, it was a wakeup call and an alarm so loud that in less than half year from the fraud, you can expect the RBI's proposed guidelines to regulate the Wealth Management Industry.

Key Risk Indicators - Crystal ball to predict the future

As risk professionals, you might have heard about the Key Risk Indicators or KRI as they are called. But do you know how to construct effective KRI. Or better still, do you know how powerful KRI are to the organisation.

We invite other Risk professionals to share their experiences with KRI and how they have benefited.

Red Flags certainly help Fraud Risk Management

Red flags are very useful in combating frauds. With more and more innovative ways of perpetuating frauds, companies struggle to keep pace with these fraud methodologies.

In such scenarios, Banks need to rely on infrequent and subtle red flags that don't necessarily mean fraud, but point to a weakness or an incident that can potential be due to an underlying fraud.

Type red flags in google and you are likely to come across tens of red flags that banks can adopt to manage frauds.

Citibank Fraud...Who else is at fault

The recent Rs 400 crore citibank fraud in the gurgaon branch is no surprise. Whether it is an international bank with top class risk controls or a cooperative bank with poor internal controls, the one thing common is the customer.

The best of risk management and internal controls will fail to be fully effective if risk management is not taken outside of the company. This means that the customer also needs to support the efforts for fraud to be minimised.

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