Effective Management Seminar (EMS) Practice Questions And Answers

A transparent characterization of the competitive activities that a corporation is equipped to engage in, and the risk thresholds that it is able to consider, and an understanding of all the different threats that the enterprise is facing, both at the level of the business entity and as a whole.

Risk profile: The firm’s entire risk landscape reflecting the nature and scale of its risk exposures aggregated within and across each relevant risk category.

Risk appetite framework and vocabulary help risk regulation by supplying the Board and senior management with the information and tools required to identify and convey the risks that the company is taking and will take in line with its risk tolerance and market and risk policy.

Its organizational risk philosophy and any difference of this or its human resource management activities through its operations (including, for example, the degree to which the policy of conformity is applied to in-house IT staff).

The that global influence of financial services risk management with a special emphasis on technology such as technology and cyber risks is a growing field as a professional fight against a continuous wave of threats, fraudsters and criminals.

Ensure risk control is a guiding factor behind the strategy embraced by TBC Bank. Risk staff have evidence of feasibility by identifying the threats and monitoring the accomplishment of the goals. Identification and appropriate risk assessment, as well as risk control strategies, help to generate expected returns and goals.

“Late diligence / selection: proper assessment of the best suit and fair risk benefit for third parties” is insufficient for effective risk management by third parties.

Group in charge of setting the plan and keeping management responsible for execution is not the responsibility of board’s(board of directors) in the view of FCA.

CRO maintains a danger list that represents the fraud schemes found and the laws and regulations in effect.

The FCA defines a complaint as an expression of dissatisfaction (oral or written) about the provision of, or failure to provide, a financial service. It alleges how you have suffered (or may suffer) financial loss, material distress or material inconvenience.

The financial and reputation impacts of a risk are highly correlated. The financial and reputation impacts diverge. The reputation risk exists without a corresponding financial impact.

System acquisition, development and maintenance operations are necessary to be taken into consideration as the company establishes and retains appropriate processes and controls to handle the threats to the IT program.

A broad variety of priorities, including organizational performance and effectiveness; asset protection; transparency and credibility of monitoring processes; and conformity with laws, rules, strategies, practices and contracts.

A true solution to enable retail banking entities to navigate the immense scale of guidelines coming from all over the globe is possible through the plan of determining who does what; process, coordination and risk mitigation are informed by the application. It Automates the work assigning process.

Set up fines on businesses and organisations who breach FCA law or abuse markets and impose sanctions on firms who contravene monopoly laws.

Fraud risk is a form of organizational risk that presents a danger to the actual or anticipated financial situation and stability resulting from inadequate or unstable internal procedures or systems, human error or corruption or adverse external events.

Retrospective investigations after fraud is detected usually involve reports and assessments to assess the efficacy of the internal controls and risk management of fraud at the bank.

Specific management manuals and detailed reports of policies and practices that are explicitly articulated to employees and, if possible, available to personnel for analysis. For example, these would include regulations, IT security and health and safety concerns.

A company should create and maintain appropriate systems and controls to deal with The infrastructure risks, taking into account the degree to which the business plan addresses the technology needs.

Businesses do not assume that, if a service provider is either a managed entity or an intra-group department, an outsourcing arrangement with that contractor would automatically mean an operational risk mitigation in itself.