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RSK4801 Assignment 04_2023 SOLUTIONS (DUE DATE: 29/09/2023)
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RSK4801 Assignment 04_2023 SOLUTIONS (DUE DATE: 29/09/2023)
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RSK4801 ASSIGNMENT NO. 4YEAR 2023
DUE 29 SEP 2023
, Table of Contents
A sound risk management procedure is guaranteed by an operational risk policy, which also
aids in accomplishing organisational goals. Although the specifics of such a policy vary from
organisation to organisation, it should include certain concepts at the very least. Briefly discuss
five concepts that must be included in an operational risk management policy............................... 3
Risk and control self-assessments are another operational risk management strategy for
controlling operational risk exposures. Give a full explanation of this concept. ............................... 4
Following the COVID-19 outbreak, many organisations switched to working entirely online.
Cybercrime has risen as a result. Describe the many types of corporate cybercrime these
organisations have encountered and provide examples. .................................................................... 6
The frequency and severity of an organisation's losses can be determined by looking at the
lognormal distribution of losses, which can also help determine how to finance these risks.
Additionally, this might be a factor in determining the organisation's risk appetite. Explain the
concept of risk appetite. Discuss the best financing method for the risks shown for each sector
by analysing the below lognormal distribution. ...................................................................................... 7
How operational and reputational risks are related is a topic of continuing discussion.
Reputational risk is a distinct risk category that needs to be managed according to various
points of view. Differentiate between operational and reputational risks using specific examples.
For each risk type, specify the appropriate mitigation controls. .......................................................... 9
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