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APRP - Fundamentals of Risk Management (27) (part 3) - Payments Risk Management (solved).
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APRP - Fundamentals of Risk Management (27) (part 3) - Payments Risk Management (solved).
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APRP - Fundamentalsof Risk Management
(27) (part 3) -
Payments Risk
Management (solved)
Risk Management - defined
Total process required to identify, control, and
minimize the impact of uncertain events.
Risk Management program - objective
Reduce risk and obtain and maintain appropriate
management approval at predefined stages in the
life cycle
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Risk Management Process
1. Identify
2. Measure
3. Manage
4. Monitor
Risk Management - factors to consider
- Size and complexity of FI
- Relative scale and impact of service to overall
activities
Risk Management board/management
responsibilities
- approve plans, policies, and expenditures
- review periodic performance
- review management reports
---- implementation
---- ongoing
Enterprise Risk Management (ERM)- defined
-process of planning, organizing, leading, and
controlling activities of an organization,
-in order to minimize the effects of risk on an
organization's capital and earnings
Risk Assessment - purpose
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