RSK4801 Assignment 4 (COMPLETE ANSWERS) 2024 - DUE 4 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations
RSK4801 Assignment 4 Semester 2 2024 Due 4 October 2024 All question answered.
RSK4801 Assignment 4 (COMPLETE ANSWERS) 2024 - DUE 4 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations
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Operational Risk Management
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RSK4801 Assignment
2 (COMPLETE
ANSWERS) 2024 - DUE
12 July 2024 ;100%
TRUSTED workings,
explanations and
solutions.
ADMIN
[COMPANY NAME]
, CASE STUDY: RISK MANAGEMENT – THE ROLE OF A RISK
MANAGER Since 2020, many incidents and events have caused
organisations to adopt a focused approach towards risk management
and the role of risk managers. Examples of these events are the
COVID-19 pandemic and its severe effects on many countries,
economies, and businesses. South Africa was not excluded from the
pandemic and was further hampered by severe power interruptions
and inadequate service delivery. These are all risk-related
incidents/events involving risk managers to assist in the
management thereof. According to an article in Enterprise Risk
Magazine (2023), uncertainty also boosted the profile and role of
risk managers. Large-scale risks are happening more often, which
requires sound risk management to cope with the increasingly
unclear business and physical environments. As such, it seems
imperative that the role of risk managers and appropriate risk
management tools is clear. The classic three lines of defence in the
risk governance model endeavour to demarcate the various roles
regarding the management of risks. Although there are many issues
surrounding this model, it provides a foundational guideline for the
roles of the main role-players in risk management. Regarding the
tools for operational risk management, it seems that there are
concerns over the predictive powers of key risk indicators (KRIs),
the value of risk and control self-assessments (RCSAs), and the
subjectivity of scenario analysis to manage operational risks
(Enterprise Risk Magazine, 2023). In addition, embedding an
operational risk management framework is becoming essential.
However, it appears that there is only a vague understanding of the
exact role of a risk manager. Furthermore, according to Enterprise
Risk Magazine (2023), excessive effort is being expended on issues
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