Exam (elaborations)
RSK4801 Assignment 4 Semester 2 (Detailed Answers) Due 4 October 2024.
- Course
- Operational Risk Management
- Institution
- University Of South Africa
Question 1 CASE STUDY: RISK MANAGEMENT – THE ROLE OF A RISK MANAGER
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RSK4801Assignment 4
Semester 2
Due 4 October 2024
, Question 1
3.1 External Risks
As the operational risk manager for a large investment company reliant on foreign
investors, it is crucial to identify external risks that can potentially impact the business.
Below is Table 1, which outlines the identified external risks, their potential
consequences on the company's business, and suggested control measures.
Table 1: External Risks
Risk/Cause Consequence Control Measure
Disruption of operations, Implement a comprehensive
1. Future potential damage to business continuity plan
disasters (e.g., infrastructure, and loss of (BCP) that includes disaster
floods, drought) investments due to reduced recovery strategies and
investor confidence. regular drills.
Invest in backup power
System downtime can lead
systems (UPS, generators)
2. Energy crisis to operational delays,
and explore alternative
(loadshedding) financial losses, and
energy solutions (e.g., solar
decreased productivity.
power).
Develop a robust
Difficulty in attracting foreign
3. Slow pace of sustainability strategy with
investment leading to
sustainability clear milestones to
decreased capital and
projects demonstrate commitment to
operational constraints.
potential investors.
Increased operational risks, Work with government
4. Poor poor service delivery entities to advocate for
maintenance of affecting client relationships, infrastructure investment and
infrastructure and regulatory non- conduct regular assessments
compliance. of current infrastructure.
Implement stringent
Potential breach of sensitive
5. Increasing cybersecurity measures,
client data, leading to
cyber risks and including staff training,
reputational damage and
cybercrimes regular software updates,
legal consequences.
and incident response plans.
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