Survey of community banks in the Tenth Federal Reserve District (survey responses)

Complete survey with statistical summaries of responsesCommunity banks ; Federal Reserve District, 10th

Risk management standards for project management

The purpose of this paper is to present and compare the main standards for project risk management that are currently available today. Four international standards recognized world- wide were selected for comparison: PMI, PRINCE2, IPMA, ISO 31000 and IEC 62198. Project management has evolved over recent years into a mature professional discipline characterized by a formalized body of knowledge and the definition of systematic processes for the execution of a project. All these and possibly other factors as well, have resulted in growing numbers of books, articles and conferences being devoted to project risk management. This level of activity has also led to the development of a number of standards that prescribe for and advise organizations on the best way to manage their risks. Every meaningful standard for project management contains project risk management as its important part.Web of Science4613

Risk Management for Nonprofits

Our research, based on the first comprehensive financial analysis of New York's nonprofit sector, found that 10% of the city's nonprofits were insolvent and 40% had virtually no cash reserves. Less than 30% were financially strong. If anything, things are getting harder, given market volatility, the move to value-based payments in health care, and increased costs for real estate and labor.Fortunately, we also discovered that nonprofits can take a few concrete steps to reduce their risk of failure and sustain vital programs:Make risk management an explicit responsibility of the audit and/or finance committee.Develop a risk-tolerance statement, indicating the limits for risk-taking and the willingness to trade short-term impact for longer-term sustainability.Keep a running list of major risks and the likelihood and expected loss for each.Put in place plans for how to maintain service in the event of a financial disaster, or even a "living will" that specifies how programs will be transferred to other providers (or wound down in an orderly fashion) in the event that recovery is not possible.Brief trustees regularly about longer-term trends in the operating environment.Periodically explore the potential benefits of various forms of organizational redesign, such as mergers, acquisitions, joint ventures, partnerships, outsourcing, managed dissolutions, and divestments.Compare financial performance to peers on an annual basis.Develop explicit targets for operating results (margins, months of cash, etc.) and contingency plans if minimum targets are not met.Redouble efforts to build and safeguard a financial cushion or "rainy-day fund," even if doing so forces consideration of difficult programmatic trade-offs.Doing any of these will depend on a functioning partnership between capable management and a critical mass of experienced, educated and engaged board members. Therefore, organizations serious about risk management must work hard to recruit board members with a wide range of experience. They need to ensure ongoing education for both new and existing board members and to empower high-functioning committees. Many organizations, particularly large and complex ones, would also benefit from having an experienced nonprofit executive on their board

Developing Risk Management Mechanism at Fat-and-Oil Industry Enterprises

The aim of the article is consideration of questions associated with the risk management mechanism formation at the Ukrainian fat-and-oil industry enterprises, modern scientific publications on this topical subject and developing risk management mechanism for fat-and-oil industry enterprises in Ukraine. It has been determined the principles of risk management. It has been offered the risk management procedure at the level of the fat-and-oil industry enterprises, which includes the following stages: identification and evaluation of risks, development and analysis of risk management methods, choice of risk management methods, application of the selected methods, monitoring of the results and risk management system improvement. It has been developed the risk management mechanism of fat-and-oil industry enterprises, which allows to distinguish the main components of risk management and to increase their overall efficiency, as well as to facilitate understanding of the risk management mechanism essence and structure, which, in turn, reveals the direction for its improvement

Energy price risk management

The price of electricity is far more volatile than that of other commodities normally noted for extreme volatility. Demand and supply are balanced on a knife-edge because electric power cannot be economically stored, end user demand is largely weather dependent, and the reliability of the grid is paramount. The possibility of extreme price movements increases the risk of trading in electricity markets. However, a number of standard financial tools cannot be readily applied to pricing and hedging electricity derivatives. In this paper we present arguments why this is the case

Operational Risk Management

We view risk management as an integral part of good management. Risk management should take a balanced view of decision problems encompassing all significant risks and rewards. Operational risks are only one type of risks and therefore are only one piece in the jigsaw puzzle that only makes sense when all pieces are assembled. All risk analyses are based on the same general principles – generation of alternatives, quantification of uncertainties and preferences, modeling of consequences – but factors deserving the most attention vary from problem to problem. We distinguish three broad types of operational risks according to the frequencies of loss events: nominal, ordinary and exceptional. Depending on the type, uncertainties are negligible, similar or very large compared to expected losses. Nominal risks are the province of Total Quality Management, a well-developed discipline, but perhaps better known in manufacturing than in financial services. The analysis of ordinary and exceptional risks is illustrated by case studies from which we draw general lessons. With ordinary risks, it is crucial to understand the interaction among risks and with costs and rewards; risks do not add up, indeed operational risks may sometime reduce other uncertainties. With exceptional risks, we show the importance of quantifying the risk attitude of a financial institution in order to arrive at rational decisions such as mitigation or transfer of risks.Risk management, poerational risk, risk attitufe, utility

A river of risk : a diagram of the history and historiography of risk management

The history of risk and risk management can be evaluated through the historiography of the subject. Writings on the history of risk and risk management can also be treated as pieces of evidence. A diagram is proposed describing some of the subjects and influencing the development of risk management, focused through the theme of records management. A detailed exploration of the historiography is undertaken to indicate the relevance of the history of risk management to its present interdisciplinary status

Risk Assessment and Risk Management: Mending the Schism

The authors suggest that giving different individuals the responsibility for assessing and managing Risk may sometimes be counterproductive

Risk management in megaprojects.

Despite its high relevance to the success of megaprojects, risk management remains one of the least developed research issues. Risk management is a process composed of several phases. This paper is focused on the first of these phases: risk identification. Our purpose is to establish the state of the art in risk management in megaprojects, systematize the risks studied in the literature, as well as to identify potential areas of further research. To this end, a systematic review is carried out. Academic journals and conference papers published from 2000 onwards in main databases (WoK, Scopus and ABI) have been examined. A qualitative analysis has been performed by using ATLAS.ti together with a checklist. To the best of the authors’ knowledge, no previous systematic revision of papers on risk management in megaprojects has ever been carried out, although certain authors have emphasized its importance. The contribution of this research includes: a bibliometric analysis of the papers that focus on risk management in megaprojects; a systematization and classification of the risks; tw†o matrices comprised of the proposed risk categorization, first in relation to the sector studied, and second related with the different stakeholders; and an identification of gaps in the research in risk management in megaprojects. The systematization of the risks helps managers towards their identification within the megaproject, and to follow the subsequent steps in the risk management process. Moreover, the matrix developed on the transfer of risks can enable managers to analyse who would be the best partner to support each risk. Furthermore, from an academic point of view, potential areas for future lines of research are presented