Risk Tips Issue # 33: Preparedness Towards Crisis Management Using Risk Management Plan

  • Jul 16, 2018
  • RIMAN, Wikipedia, ICM, Bizmanualz

IntroductionA crisis is an event that occurs at a specific point in time; it is usually something that is unforeseen, public in nature and has the potential to cause great harm to an organisation in terms of finances, revenues, reputation, market positioning and service delivery. Crisis Management is the process…

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Best Practices on Risk Aggregation

  • Jul 04, 2018
  • RIMAN

As part of risk and control assessment process, organisations collect a lot of information about risks at various levels across the organisations. However, it is generally difficult to aggregate the detailed information about risks at a business division or group level to create an aggregated view of operational risk exposure.…

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Risk Tips Issue # 31: Business Continuity & Disaster Recovery Planning

  • Jul 04, 2018
  • Wikipidea, RIMAN

Business continuity planning (BCP) is the creation of a strategy through the recognition of threats and risks facing a company, with an eye to ensure that personnel and assets are protected and able to function in the event of a disaster. Disaster Recovery Plan (DRP) is a business plan that…

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Basel Committee issues technical amendment to the Net Stable Funding Ratio

  • Jul 04, 2018
  • BIS, RIMAN

The Basel Committee on Banking Supervision has approved a technical amendment which is related to the treatment of extraordinary monetary policy operations in the Net Stable Funding Ratio (NFSR). Effective immediately, this amendment to the NSFR standard allows reduced required stable funding factors for central bank claims with a maturity of more…

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18th Annual Conference 2018 Slides

  • Jul 03, 2018
  • RIMAN

Kindly find the download link to the presentation slides for the 18th Annual Conference.  Download here

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Risk Tips Issue # 25: Outsourcing Risk

  • Jun 28, 2018
  • RIMAN, Deloitte, Wall Street Journal

Outsourcing is "an agreement in which one company contracts-out a part of existing internal activity to another company. It involves the contracting out of a business process (e.g. payroll processing, claims processing) and operational, and/or non-core functions (e.g. manufacturing, facility management, call center support) to another party. Outsourcing makes it…

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Risk Tips Issue # 24: Regulatory Risk

  • Feb 09, 2018
  • RIMAN, Boston Consulting Group, RiskNet

To many Risk Practitioners, the landmark regulations of the post-crisis era – the overhaul of the capital adequacy framework, widespread market structure reforms, far-reaching changes to accounting practices – represent a laundry list of potential Operational Risks for their institution. Fines and penalties for non-compliance, the restructuring of desks and…

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Risk Tips Issue #23: Managing Market Risk in 2018

  • Feb 09, 2018
  • CNBC, UBS Wealth Management, RIMAN

Investors can expect a year of respectable economic growth, higher corporate profits, and rising equity markets, but risks are also rising along with these record highs. Risks stemming from government balance sheet pressures and liquidity stress as well as external imbalances remain elevated, while domestic political tensions increase policy uncertainty…

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Risk Tips Issue #22: Cyber Attacks Trends /Way Forward

  • Jan 22, 2018
  • RIMAN, Check Point Tech.

IntroductionDiscussion on cyber risks cannot be over emphasized and that is why it is coming for the second time in a row. Being the topmost ranked risk in the just concluded year, it is therefore imperative to review why this has been on the rise, the consequences and preventive measures.As…

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Risk Tips Issue 4: Analytical Risk Methods #2 - Trends: Data Analytics

  • Apr 25, 2017
  • ERMA Academy, Navrisk Vision, Everest, Wikipedia Online encyclopedia

Analytical Risk Methods #2 Trends: Data Analytics What is Data? The first step in any form of analysis, be it trend or any rudimentary form of analysis, begins with an understanding, appreciation and management of data, as data is fundamental in any form of what can be defined as information,…

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Risk Tips Issue 3: Risk Underwriting

  • Apr 25, 2017
  • Investopedia Online, CAN Publications, Wikipedia Online encyclopedia, RIMAN CRM Pack.

Principles & Practice of Insurance: Risk Underwriting What Is Underwriting? The word "underwriter" originally came from the practice of having each risk-taker write his name under the total amount of risk he was willing to accept at a specified premium. This centuries-old practice continues, in a way, as new issues…

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Risk Tips Issue 2: Insurable Risk - Business Interruptions

  • Apr 25, 2017
  • Investopedia Online, CAN Publications, Everest Loss Control Alerts, Wikipedia Online encyclopedia

Risk Transfer Methods: Principles & Practice of Insurance Insurable Risk: Business Interruptions An insurable riskis a risk that meets the ideal criteria for efficient  insurance . The concept of insurable risk underlies nearly all insurance decisions. For a risk to be  considered insurable, it has to meet several criteria  Read…

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Risk Tips Issue 1: Risk Transfer Methods

  • Apr 25, 2017
  • Investopedia Online, CAN Publications, Everest Loss Control Alerts, Wikipedia Online encyclopedia

Risk Transfer Methods: Principles & Practice of Insurance What is Risk Transfer? Risk transfer is a risk management and control strategy that involves the contractual shifting of a pure risk from one party to another. One example is the purchase of an insurance policy, by which a specified risk of…

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Risk Tips Issue 9: Credit Risk #1

  • Dec 08, 2016

What Is Credit  Risk A credit risk is the risk of default on a debt that may arise from a borrower failing to make required payments. When lenders offer borrowers mortgages, credit cards or other types of loans, there is always an element of risk that the borrower may not…

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Risk Tips Issue 8: Political Risk

  • Dec 08, 2016

What Is Political Risk The term political risk has had varying number of meaning based on a lot of different scenarios, yet, broadly speaking it refers to complications faced by individuals, house hold, businesses and the government as a result what is or are commonly referred to as political decisions…

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Quick Pick

Risk of Fuel Tanker Fire

Mitigation Strategies

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CBN, Director of Banking Supervision Department officially joins Risk Manager Association of Nigeria.

Central Bank of Nigeria, Director of Banking Supervision Department, Alhaji Ahmad Abdulahi is the latest high profile individual to join RIMAN. Prior to now, Alhaji Abdulahi has been a strong supporter of RIMAN. Alhaji Ahmad Abdulahi oversees banking supervision department of the Apex Bank. The department conduct off-site surveillance and…

Endowment of Academic Prize in UNILAG by Risk Managers Association of Nigeria (RIMAN)

In furtherance of its mission to achieve continuous capacity building in Risk Management, Risk Managers Association of Nigeria (RIMAN), recently made a historic move in establishing and endowment of academic prize for the best graduating student of the Masters of Risk Management (MRM) programme of the Actuarial Science & Insurance…

Risk Managers Association of Nigeria (RIMAN) Elects a New President At Its 18th AGM/Election.

At The 18th Annual General Meeting (AGM)/election that took place on the 8th of June 2018 at Eko Hotel &Suites, Victoria Island, Lagos, RIMAN elected a new President and members of its Executiv Council. Read More..