The study seeks to clarify why donors such as the World Bank still insist on the use of their financial management system rather than the recipient country’s financial management system, despite the intention under the Paris Declaration 2005 to use the respective government’s systems. The study then explores the reasons why the financial management system used by the World Bank is more effective in managing risks related to public financial management and aid as compared to the Government of Malaysia approach. The study compares financial management by the World Bank and Ministry of Education Malaysia, in their parallel implementation of Educational Sector Support Projects (ESSP) under the Eighth Malaysian Plan, 2001-2005. The quality of financial management of projects in two systems is compared using established criteria of good financial management practice. Findings are based on evidence from interviews, documentation and direct observations. The study demonstrates the significant roles in reducing risks played in the World Bank approach by the Project Management Reports (PMR), high quality Project Implementation Unit (PIU) staff and better procurement procedures.
Disaster Risk Reduction and Management (DRRM) has been a popular topic of discussion in recent years due to the increase in the intensity and occurrence of disaster events. Local institutions play a significant role in DRRM particularly in planning and implementing disaster risk management mechanisms and in establishing consolidated efforts aimed at preparing for, responding to, and mitigating impacts of disasters. This paper explored the DRRM initiatives of the Local Government Units (LGUs) of Tigbauan and Guimbal in Iloilo, Philippines and identified and analyzed the the coping mechanism of the households to recurrent and extreme events. This paper contends that DRRM is not a stand-alone solution to the problems faced by the communities, rather, it needs to be integrated with other long term development plans of the local government, i.e. Coastal Resource Management (CRM), in order for it to be more effective.
Flood is the one of the most important natural hazard in India that occurs frequently due to some natural and anthropogenic factors. The delta region of Mahanadi river basin located in eastern part of India which is densely populated and major paddy growing region in the state of Orissa. Floods are frequent phenomena occurring in this part of the state during south-west monsoon, which causes severe damage of lives, property as well as agriculture. Remote sensing and GIS is an important tool for the flood mapping and its damage assessment. It provides timely assistance and save lives and property. The main objective of the present book is to give flood damage assessment and vulnerability analysis in part of Mahanadi Delta Basin, India. Using SAR data flood hazard map and flood depth the vulnerability of each element at risk is calculated. Finally the total risk has been identified. So, Remote sensing and GIS can be used for the risk communication among the people in our society for different strategic management and planning. This book meets the requirements of Under Graduate and Post Graduate courses in geography, earth science, environmental management and Disaster management.
The Strait of Istanbul, the narrow waterway separating Europe from Asia, holds a strategic importance in maritime transportation as it links the Black Sea to the Mediterranean. It is considered as one of the world’s most congested and difficult-to-navigate waterways. The nature of the global economy and international politics dictate that the maritime transit traffic in the Strait cannot be greatly reduced, or eliminated. Nonetheless, the economic and political realities vs. environmental awareness and risk management need not be mutually exclusive. The risks regarding the transit traffic can be mitigated by operational policies and rules that adequately regulate and guide the transit traffic, while maintaining the freedom of passage. The aim of this study is to prove and implement a sound methodology and a quantitative basis to investigate and analyze safety risks pertaining to the transit vessel traffic in the Strait of Istanbul. We believe that this book can also act as a guide to make any similar extensive quantitative risk assessment study.
The goal of Security Risk Management is to teach you practical techniques that will be used on a daily basis, while also explaining the fundamentals so you understand the rationale behind these practices. Security professionals often fall into the trap of telling the business that they need to fix something, but they can't explain why. This book will help you to break free from the so-called "best practices" argument by articulating risk exposures in business terms. You will learn techniques for how to perform risk assessments for new IT projects, how to efficiently manage daily risk activities, and how to qualify the current risk level for presentation to executive level management. While other books focus entirely on risk analysis methods, this is the first comprehensive guide for managing security risks. - Includes case studies to provide hands-on experience using risk assessment tools to calculate the costs and benefits of any security investment. - Explores each phase of the risk management lifecycle, focusing on policies and assessment processes that should be used to properly assess and mitigate risk. - Presents a roadmap for designing and implementing a security risk management program.
Islamic Banking and Finance is known to be the fastest growing economic system of the current time. It has always been in discussion that how the unique engraved risks of Islamic Finance be avoided or reduced to minimum. This book provides a comprehensive and all-encompassing view of different Risk Management Practices in Islamic Banking and Finance. This Book is equally helpful for students to build a theoretical understanding of Risk Management Techniques in Islamic Banking as well as for professionals who are practically applying these practices. This book will help them manage different risks in Islamic Banking field more appropriately.
Chapter 1 sets out the background to enterprise- wide risk management (EWRM). Chapter 2 examines literature on EWRM and Chapter 3 assesses key theoretical approaches to EWRM. Chapter 4 sets out the research design while Chapter 5 presents and discusses the results of an empirical investigation which explores the views of 16 Chief Executive Officers drawn from 16 Zimbabwean short- term insurance companies. Research evidence shows that whilst risk awareness seems good in most Zimbabwean short-term insurance companies, a significantly lower number take adequate measures to reduce risks to their lowest practical levels. It might be suggested that the Zimbabwean short-term insurance industry has limited capabilities to consistently identify, measure and manage risk exposures across the company and thereby limit exposures. Execution of EWRM is sporadic and losses have not been limited in accordance with predetermined risk tolerance guidelines. Therefore, the Zimbabwean short-term insurance industry might be viewed as having weak EWRM. Therefore this research provides a wide range of recommendations to address the identified weaknesses.
A Knowledge Management System is an integrated multifunctional software framework that supports all main knowledge management and knowledge processing activities, such as capturing, organising, classifying, understanding, debugging, editing, finding, retrieving, disseminating, transferring and sharing knowledge. This book provides an ontology based knowledge management solution for Software Risk Management (SRM). In this book, the knowledge of Software Risk Management is visualized through SRM Ontology (SRMONTO). Emphasizing the profound importance of risk management in the IT industry, an e-learning tool to educate potential software engineers is described in this book. An ontology based web service described in this book is used to analyze a project, product or service based on the factors, relationships and constraints that constitute the respective project, product or service. Its main goal is to provide project analysts with a web service, to aid them in identifying and assessing the risks involved in the project, allowing them to plan for avoiding risks, and controlling and monitoring risk. The targeted audience for this book is students and software engineers.
This is an academic article that contains the real life day to day working experience of different tasks in Credit Department of Dhaka Bank Limited, KDA Avenue Branch. Provided detailed information about the organization with its company profile, Corporate Vision and Mission, product & service and resources.Discussed about the overall credit risk grading processes of DBL which starts with the branch and done fully under head office’s credit department.The whole system has been described elaborately keeping in mind the most important segments. In addition the diagrams Credit Risk Grading score sheet add a clear understanding of the system.
Liquidity risk is always present in our financial system and has in the last years been a major contribution to the financial crisis. Market liquidity risk has an effect on for example security prices, risk management, and the speed of arbitrage. The banks and their funding liquidity drives the market liquidity risk. Liquidity crisis arises through losses, increasing margins, tightened risk management, and increased volatility. When this happens the traditional liquidity providers becomes liquidity demanders which affect prices in a negative way. To get a sound understanding of liquidity risk we have to specify and describe liquidity. Market liquidity and funding liquidity are two kinds of liquidity. Market liquidity can be described as good when a security is easy to trade. Easy to trade is defined as small bid ask spread, small price impact and high resilience. If a bank or investor have good funding liquidity they have good availability of funds by their own capital or from loans. The main objective in this paper is to show if liquidity risk has a significant impact on option price and depends on a real supply curve.
Now in its third edition, this seminal work by Joel Bessis has been comprehensively revised and updated to take into account the changing face of risk management. Fully restructured, featuring new material and discussions on new financial products, derivatives, Basel II, credit models based on time intensity models, implementing risk systems and intensity models of default, it also includes a section on subprime that discusses the crisis mechanisms and makes numerous references throughout to the recent stressed financial conditions. The book postulates that risk management practices and techniques remain of major importance, if implemented in a sound economic way with proper governance.
Credit risk management is one major issues that continue to dominate agendas in the board meetings of many firms. The importance of credit risk management has never been more important with the current high default rates and bankruptcies. Proper management of credit risk enables a firm to maximize business opportunities with customers, dilute the concentration of exposure and ultimately maximize profits. This book aims at delving on Credit risk management practices of pharmaceutical firms in Kenya, a developing country.
The practice of credit risk management is so challenging since it offers a relatively greater freedom and scope to bankers for deciding over matters related to loan portfolios. However, the prevalence of higher degree of freedom in the field of credit risk management is also accompanied by greater risks. This study is aimed to assess the credit risk management practices and challenges in the context of Awash International Bank, Mekelle Branch which is located in the capital of Tigrai National State, Mekelle. The rationale for undertaking this study is to enable Awash International Bank manage its credit risk effectively which determines its success and future survival. It is also equally important for financial institutions especially banks which are suffering from credit default problems. The study used both primary and secondary data. The secondary data were collected from clients’ files, report, directives, journal articles, and manual of the bank while the primary data were collected through semi-structured questionnaire and interview. Out of 164 target population for the study, 69 individuals were taken as a sample through stratified sampling techniques.
Written by leading market risk academic, Professor Carol Alexander, Practical Financial Econometrics forms part two of the "Market Risk Analysis" four volume set. It introduces the econometric techniques that are commonly applied to finance with a critical and selective exposition, emphasising the areas of econometrics, such as GARCH, cointegration and copulas that are required for resolving problems in market risk analysis. The book covers material for a one-semester graduate course in applied financial econometrics in a very pedagogical fashion as each time a concept is introduced an empirical example is given, and whenever possible this is illustrated with an Excel spreadsheet. All together, the "Market Risk Analysis" four volume set illustrates virtually every concept or formula with a practical, numerical example or a longer, empirical case study. Across all four volumes there are approximately 300 numerical and empirical examples, 400 graphs and figures and 30 case studies many of which are contained in interactive Excel spreadsheets available from the the accompanying CD-ROM . Empirical examples and case studies specific to this volume include: Factor analysis with orthogonal regressions and using principal component factors; Estimation of symmetric and asymmetric, normal and Student t GARCH and E-GARCH parameters; Normal, Student t, Gumbel, Clayton, normal mixture copula densities, and simulations from these copulas with application to VaR and portfolio optimization; Principal component analysis of yield curves with applications to portfolio immunization and asset/liability management; Simulation of normal mixture and Markov switching GARCH returns; Cointegration based index tracking and pairs trading, with error correction and impulse response modelling; Markov switching regression models (Eviews code); GARCH term structure forecasting with volatility targeting; Non-linear quantile regressions with applications to hedging.