Enterprise risk management

The Basic Guide to Network Success Foot Printing also known as reconnaissance is the technique used for gathering information about computer systems and the entities that they belong to. To get this information, a hacker might use various tools and technologies. There are various methods in which a hacker can obtain your information/data. One in particular that comes to mind is Port Scanning. Other methods of gaining access to a network infrastructure would be Social Engineering, Keylogging,…

A risk mitigation strategy is implemented in order to reduce the chances of a certain risk to occur or the strategy tries to reduce the impact of the risk it if does occur (“Reducing Risk Through,” 2009). We all know that risks can arise within a company at any time, so the company needs to be prepared to handle the risks before it affects success of the company. Risk mitigation strategies help you identify and analyze the risk in order to determine how to best alleviate the effects of the…

One of the most power tools available to risk assessment is being able to orchestrate risk workshops. The success or failure of a project is determined, is by how well we effectively use the tools that are available to us. The best source of your project knowledge is from the team itself. The team combines the knowledge of the project, its goals, objective, schedule, tools and technology. This combination is what enables them to identify the risks the project faces, their relative…

Analysis AF healthcare service and delivery measures look at current trends with patient care regarding lifestyle risks and behavioral health during routine visits. Outcomes prove that AF’s performance is steadily improving with comparable results to Health Care Data and Information (HCDI) 90th percentile benchmark and a mission to meet and exceed Healthy People 2010 goals (NIST, 2006). In contrast to nationwide trends in chronic illnesses, AF has seen consistent improvements in BMI figures,…

six helpdesk personnel responsible for the support of the distribution terminals are highly overworked(Kerzner, 2006). This in turn leads to inefficiency. Carol should therefore incorporate risk management techniques to ensure vulnerable areas are highly secured and correct corrective measures re put in place. Risk avoidance remains the most effective measure, and should be incorporated in her plans as…

The role of the accounting division in any organization is to provide accurate financial information and inform the top management of the risks involved in any business undertaking. Two major positions play a key role in identifying risks in an organization and developing risk control strategies. These positions are the ones held by an internal auditor and the CFO in an organization. As denoted by its name, the CFO in any organization is concerned with reporting the financial position of the…

with senior management and other stakeholders. Therefore, the Chief Audit Executive can begin to bridge the gap and include the stakeholders in the process of what needs to be audited by incorporating issues identified through an enterprise-wide risk assessment or enterprise risk management program. For this reason, ERM allows the internal auditor to facilitate discussions with stakeholders to identify what represents the most significant risks to shareholder value by identifying risk assessment…

Risk Management and Homeland Security Risk management is the systematic and analytical process of assessing the likelihood of a threat to compromise critical infrastructure (Decker, 2002) and other potential targets susceptible to any form of threats. In assessing risks, the formula R = f(C, V, T) is used, whereas the level of risk (R) is seen as a function of the consequences (C), vulnerability (V), and the likelihood of a threat (T). One may ask why a mathematical function that requires…

There are several unique challenges of public sector in terms of risk management. Firstly, the public sector, compared with private sector, is more conservative. That is to say, if someone wants to make some changes or reforms, it is much harder for him to get support from upper level compared with private sector, given that the changes or reforms are helpful to the organization through analysis. Secondly, it is harder to do risk management in an organization-wide level for a public sector than…

Risk financing determines a community bank’s ability to pay for loss events in the most effective and cost efficient manner. Through an enterprise-wide risk management (ERM), the chief executive officer (CEO) operates in collaboration with risk managers or senior executives from other departments to manage all risks. This provides a holistic or team approach. For a community bank, a description of the firm, the top five financial risks, and treatment of the risks will be discussed.…