Operational risk management

This is always of great concern for health care risk managers. They need to be careful as there is always risk of vicarious liability with the hospital and all necessary precautions should be taken to cut down such risks. In Cordero vs Christ hospital (Health Risk Management, 2009) patient was treated by independent anesthesiologist who was contracted with the hospital. The patient had never seen that physician…

Risk Management (RM): Complies: A solid RM program is utilized within the unit. RM training is included in the work centers Job Safety Training Outlines (JSTO). Leadership and supervisors continually communicate risk management principals to all personnel. Documentation of training is tracked in ADLS via automated record tracking. D. High-Risk Activities (HRA) Program: Complies: The unit is actively engaged in briefing personnel about the PACAF High-Risk Activities…

A/TYPES OF RISKS LIQUIDITY RISK: Liquidity risk for banks mainly manifests on account of the following: Market liquidity risk: The risk that a bank cannot easily offset or eliminate a position at the prevailing market price because of inadequate market depth or market disruption. Though the importance of liquidity risk is well recognized, it eludes a comprehensive definition. The term liquidity is used across the mar-ket for different purposes, which means that Liquidity Risk itself is defined…

Risk Management Process An enterprise-wide risk management process should be built on an established and recognized framework, based on best-practices and adapted to components that align with the business’ specific needs. The framework for the organization’s risk profile should utilize internationally recognized standards as a model, which will better meet regulatory risk management and will also be more efficient in meeting the organization’s needs. The standards selected are then used as a…

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…

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…

how risk is managed in public transportation systems. This paper presents three case studies of companies in countries with advanced, emerging, and fast emerging economies, UK, Colombia and Brazil respectively. It aims to classify them according to the maturity level of their risk management processes. Hillson 's integrated risk management model will be used for this analysis, as it will allow an insight to how these organizations integrate the management of opportunities to the management of…

The intention is to confirm the standards required in social care and ensure that workers know what standards of conduct employers, colleagues, service users, carers and the public expect of them. I implement these by giving all of my staff a copy of the codes of practice as part of their induction package. The Code of Practice for Employers of Social Care Workers sets down the responsibilities of employers in the regulation of social care workers. The code requires that employers adhere to…