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1.1 The global risk environment
Organisations exist as a necus of...,
Effective risk management can add...,
Despite the value enhancing benef...
8
cards
1.2 The importance of risk management: a stakeholder approach
Risk management is essential to h...,
Organisations must find balance b...,
What is a risk event 3
14
cards
1.3 Reasons for risk management
The c___ for regulation is not cl...,
All organisations are subject to ...,
What is meant by self regulation 3
12
cards
1.4 The global regulatory framework for risk management
The three main strands of the glo...,
Why is there a need for internati...,
Modern diverse r____ may be conne...
26
cards
1.5 International risk management standards
The purpose of international risk...,
Name three international risk man...,
The iso31000 standards provides a...
9
cards
2.1 Regulatory frameworks
Risk m_______ and corporate g____...,
Effective risk management can sup...,
The uk was one of the first count...
11
cards
2.2 The link between risk management practices and corporate governance regulation
What is corporate governance 1,
One key link between corporate go...,
What four types of risk could aff...
10
cards
2.3 UK regulations: the Corporate Governance Code
Which british standard provides a...,
When was the cadbury report first...,
What were the three recommendatio...
11
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2.4 Irish regulations: the Irish Companies Act 2014 and system of corporate governance.
Which act governs company law in ...,
Since the irish stock exchange ac...
2
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2.5 European Union regulations
What key element about the struct...,
Developing a degree of c_________...,
The eu has followed an action pla...
4
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2.6 The G20/OECD Principles of Corporate Governance
The g20 oecd principles of corpor...,
One of the key principles of the ...,
One of the key principles of the ...
7
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2.7 World Bank corporate governance and financial reporting initiatives
The world bank recognizes that ef...,
The world bank s work on governan...
2
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2.8 Corporate governance regulations in other nations
Channel islands there are no gene...,
United araba emirates the uae s g...,
Kenya kenyan governance is modell...
5
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3.1 Sector regulators
Sector specific risk management r...,
Financial services regulation in ...,
Health and safety regulation is p...
5
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3.2 Sector regulation for EU member states
The eu regulates three different ...,
The eu only becomes involved in s...,
How are eu sector regulations doc...
11
cards
3.3 Financial services regulation
Which is the sector with the larg...,
Risk management for financial ins...,
What is the difference between pr...
19
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3.4 Health and safety regulation
What is the purpose of health and...,
Which stakeholders does health an...,
Health and safety regulation exis...
14
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3.5 Environmental regulation
Environmental issues caused by or...,
Why is there a need for environme...,
What are the two market issues th...
7
cards
4.1 Risk management frameworks and standards
Risk management is an activity th...,
In organisations it is necessary ...,
An organisation needs a formal ri...
10
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4.2 Contents of a risk management framework
The iso distuinguishes between a ...,
At a minimum a risk management fr...,
What four verbs make up the risk ...
18
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4.3 A detailed look at ISO31000:2018
In what year was iso 31000 first ...,
The objective of iso31000 is to p...,
Why does iso 31000 not suggest a ...
14
cards
4.4 National standards and guides
Which british standard implements...,
When was bs31100 published 2,
Bs 31100 provides advice and guid...
15
cards
5.1 Key risk management concepts
In an organisational setting risk...,
U__________ can arise where it is...,
In an objective sense risk is a s...
7
cards
5.2 Defining risk
Define risk 1,
What is the difference between ri...,
What is the knightian uncertainty...
23
cards
5.3 Categorising risk
A common approach to risk categor...,
What is business risk 2,
Give some examples of business ri...
38
cards
5.4 Risk interconnectivity
With the rise of globalisation in...
1
cards
5.5 Risk perception
What challenges are faced by orga...,
U_________________ risk is risk t...,
Ashby sets out 6 common perceptio...
8
cards
5.6 Other practical challenges
Ashby outlines common practical c...,
Ashby offers remediation strategy...
2
cards
6.1 Risk management as a foundation of organisational success
Risk management as it is understo...,
Risk management is a discipline t...,
Linking risk to s_______ allows f...
5
cards
6.2 The evolution of risk management
The concept of measuring risk dat...,
The 1950s saw a surge in risk man...,
The 1970s saw the use of financia...
8
cards
6.3 The role of risk management in organisations
Risk management is a profession t...,
Risk management can be applied in...,
What is a black swan event 3
10
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6.4 Linking risk to strategy
There is a growing demand for mor...,
Many organisations focus on asses...,
Why did interserve plc supper a c...
4
cards
6.5 Creating value through risk
Ultimately the main objective of ...,
What is meant by strategic risk t...,
Give an example of strategic risk...
10
cards
6.6 The regulatory view of risk
Which sector faces the most presc...,
Who developed the global banking ...,
Regulators require a r_____ bank ...
6
cards
7.1 Risk management processes, perspectives and responsibilities
Formal risk management activities...,
The standard risk management proc...,
The standards risk management pro...
7
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7.2 The standard risk management process
What is meant by the standard ris...,
Is the standard risk management p...,
At its most basic the standard ri...
13
cards
7.3 Enterprise risk management
What is enterprise risk management 1,
Three essential characteristics d...,
Why is erm a holistic process 3
15
cards
7.4 Role and responsibilities for risk management
What is the responsibility of the...,
What is the role of the risk comm...,
What is the role of the chief ris...
13
cards
8.1 Frameworks for governance, risk and compliance
Risk management governance and c_...,
Policies and procedures may be co...,
An organisation should establish ...
9
cards
8.2 Role of governance and compliance within a risk management context
An organisation s risks are manag...,
Give some examples of common risk...,
What forms the cornerstone of eff...
6
cards
8.3 Components of an effective compliance management framework
What is the purpsoe of a complian...,
The compliance standards specific...,
What does alarp stand for in the ...
10
cards
8.4 Governance structures for risk management
The three lines of defence approa...,
What are the three lines of defen...,
The three lines of defence approa...
7
cards
8.5 ISO 19600:2014 - compliance management systems
Iso 19600 2014 is the internation...,
Iso 19600 offers a framework for ...,
The iso 19600 framework is divide...
6
cards
8.6 Combining governance, risk and compliance
What is a grc framework 1,
What is the rational for a grc ap...,
Which areas of an organisation ar...
4
cards
9.1 Evaluating and reporting risk
Organisations face a wide range o...,
Various risk identification appro...,
E_______ risks are significant ne...
9
cards
9.2 Techniques for identifying risk events
Ashby lists 6 categories of risk ...,
What is expert judgement 2,
What is a focus group 3
30
cards
9.3 Identifying emerging risk
What is an emerging risk 1,
Name two techniques for assessing...,
What does pest stand for 3
8
cards
9.4 Risk assessment techniques
Risk assessment techniques assess...,
Which guidance note provides guid...,
What are the two broad categories...
14
cards
9.5 Risk registers and risk and control self-assessments
Risk registers and control self a...,
What is the typical frequency for...,
What are three common elemnts of ...
5
cards
9.6 Risk reporting
Effective risk reporting exists t...,
What is rag reporting 2,
List 5 risk reporting tools 3
12
cards
10.1 Risk culture, appetite and tolerance
Exposure to risk can create the p...,
Risk a______ can be defined in te...,
Determining an organisation s ris...
10
cards
10.2 Risk appetite as a mechanism for balancing risk and return
Some areas such as health and saf...,
What are the two most common defi...,
What are ashby s three roles of r...
9
cards
10.3. Risk tolerance and capacity
What is meant by risk tolerance 1,
How are risk tolerances usually e...,
What is risk capacity 3
4
cards
10.4 Expressing risk appetite
What are the two categories of ri...,
What are the two types of metric ...,
What are probability and impact b...
7
cards
10.5 Determining risk appetite
List three factors that may affec...,
Who should set the organisation s...,
Why should the board set risk app...
4
cards
10.6 Good practice guidance on implementing risk appetite
Ashby lists three sources of guid...
1
cards
10.7 Culture and risk culture
Which group of people is most key...,
Give three examples of macro cult...,
What are the 5 levels of culture ...
7
cards
10.8 Assessing, monitoring and controlling risk culture
Give three measurement techniques...,
Name a tool for the control of ri...,
What are the 4 levers in simons l...
7
cards
11.1 Compliance management
All organisations have to comply ...,
Compliance management and risk ma...,
Compliance management exists to h...
8
cards
11.2 Linking compliance and risk management
What is the link between risk man...,
Give three examples of types of r...,
What is the goal of compliance ma...
5
cards
11.3 Roles and responsibilities for compliance
List 5 areas of a business with r...,
Who has ultimate responsibility f...,
What sanctions face directors who...
11
cards
11.4 Risk-based compliance monitoring
What is the purpose of risk based...,
Risk based compliance is often as...,
What are proceeds of crime regula...
3
cards
11.5 Compliance management tools
List 5 compliance management tools 1,
Why would an organisation need co...,
What is the purpose of a complian...
11
cards
12.1 Risk control strategies
This chapter considers how risk c...,
All organsiations make use of ris...,
Loss p________ tools reduce the p...
12
cards
12.2 Reasons for risk control
What are the two ways in which an...,
Give two examples of loss prevent...,
Give two examples of loss reducti...
8
cards
12.3 The four Ts of risk control
What are the four ts of risk cont...,
Which standard provides the descr...,
To tolerate a risk exposure means...
10
cards
12.4 Risk treatment techniques
What does pcdd stand for in hazar...,
Give 2 examples of preventative c...,
Which types of controls are corre...
13
cards
12.5 Common risk treatment controls
Classify action plans as formal i...,
Classify audits as formal informa...,
Classify firewalls as formal info...
8
cards
12.6 Risk financing
What is retained risk financing 1,
What is the difference between fu...,
When would funding retained risk ...
15
cards
12.7 Controlling major loss events
List three potential impacts of a...,
What is crisis management 2,
Give three examples of crisis eve...
8
cards
12.8 Controlling third party risks
What is third party risk 1,
What are the three jey third part...,
List three common rools for contr...
3
cards
13.1 Risk management in practice
Risk management is a broad discip...,
Operational risk management is co...,
C____ risk management is concerne...
12
cards
13.2 Common applications of risk management practice
What are the four risk management...,
Where specialists exist for risk ...,
What is one method for avoiding a...
18
cards
13.3 Risk management, corporate social responsibility and sustainability
What is corporate social responsi...,
How do csr and sustainability dif...,
What are the three p s that ashby...
7
cards
13.4 Regulatory reporting
Where an organisation is required...,
List three functions commonly inv...,
What is the company secretary s r...
9
cards
14.1 Trends and future developments for risk management
C__ can occur in the workplace an...,
Crimes can be committed by employ...,
Continuous employee t_______ and ...
15
cards
14.2 Crime
What is a crime 1,
What are the four categories of c...,
Give an example of a crime agains...
9
cards
14.3 Financial crime
What is financial crime 1,
List two types of financial crime 2,
What are the three main impacts o...
10
cards
14.4 Bribery and corruption
Which is the current uk law on br...,
Under the uk bribery act 2010 org...,
How can an organisation shield it...
3
cards
14.5 Political risk
What is political risk 1,
What political risk did alan camb...,
What is an internantional sanction 3
3
cards
14.7 People risk
Which uk legislation manages the ...,
What is behavioural risk 2,
Give three examples of negative b...
7
cards
14.8 Climate change risk
Whch organisation launched a cons...,
What are the two types of risks a...,
The bank of england expects organ...
3
cards
14.9 Asymetric risk
What is an assymetric threat 1,
Give an example of an assymetric ...
2
cards
14.10 Reputation and resilience
Where risks cannot be anticipated...,
What was the name of the 2017 ran...
2
cards
14.11 The changing balance between tangible and intangible risks
Which bank lost market share afte...,
As organisations become more glob...
2
cards
14.12 Shareholder activism
What is shareholder activism 1,
Which topic are activist pension ...
2
cards
15.1 More trends and future developments for risk management
Emerging risks may be completelt ...,
Emerging risks are emerging facte...,
Emerging risks may be identified ...
11
cards
15.2 Complex and connected risks
A common feature of modern organi...,
Emerging risks are characterised ...,
Ashby identifies three common the...
11
cards
15.3 Changing knowledge and skills
What four techniques does ashby l...,
Why are boards best placed to und...,
What technique can be used to fac...
16
cards
15.4 Changing knowledge and skills
H____ c______ is one of the most ...,
Give two examples of recent struc...,
How have employee turnover rates ...
10
cards
15.5 Digital transformation
Give an internal example of digit...,
Give an external example of digit...,
What is big data 3
14
cards
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Actuarial Risk Management CA1
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- 1656 flashcards
- 571 learners
Decks:
Chapter 0 Ca1, Chapter 1 2 Professionalism Stakeholders, Chapter 3 External Environment, And more!
