Risk Management
Identifying and mitigating various banking risks (credit, market, operational).
Detailed Description
Risk Management
What is the primary goal of risk management in regulatory and compliance contexts?
The primary goal is to ensure organizations adhere to laws and regulations while managing potential risks that could impact operations and reputation.
What are the key components of a risk management framework?
The key components include risk identification, risk analysis, risk evaluation, risk treatment, monitoring, and communication.
What types of risks do organizations typically face?
Organizations face operational, financial, strategic, compliance, reputational, and market risks.
How does the risk assessment process work?
It involves risk identification, risk analysis to assess likelihood and impact, and risk evaluation to prioritize risks.
What are some common challenges in risk management?
Challenges include rapidly changing regulations, limited resources, lack of buy-in, and difficulties in accurately assessing risks.