This document provides an overview and syllabus for a risk management course at the University of Economics in Kraków, Poland. The course will cover core concepts in risk management including the risk management process, financial risk, operational risk, and applications across different industries. It will involve 15 seminars taught through lectures, exercises and case studies. Students will be evaluated based on an end test, class participation, and a presentation. The document provides contact information for the instructor and references additional learning materials available online and in books.
We hope to use these results to improve what we do and to ultimately provide a better experience for our international students. We recognize that increased diversity on campus is important and we value the contribution of our international students. They bring different perspectives and ideas, which improves the learning experience of everyone.
Webinar: AACSB accredited MSc programs in Oulu, the capital of Northern Scand...Web2Present
Oulu Business School (OBS) at the University of Oulu is an international research and educational institute for economic sciences. Oulu, a modern growth center, creates an inspiring and stimulating environment for business studies, work and leisure. OBS is accredited by AACSB International (The Association to Advance Collegiate Schools of Business), the premier accreditation body for business schools worldwide.
We hope to use these results to improve what we do and to ultimately provide a better experience for our international students. We recognize that increased diversity on campus is important and we value the contribution of our international students. They bring different perspectives and ideas, which improves the learning experience of everyone.
Webinar: AACSB accredited MSc programs in Oulu, the capital of Northern Scand...Web2Present
Oulu Business School (OBS) at the University of Oulu is an international research and educational institute for economic sciences. Oulu, a modern growth center, creates an inspiring and stimulating environment for business studies, work and leisure. OBS is accredited by AACSB International (The Association to Advance Collegiate Schools of Business), the premier accreditation body for business schools worldwide.
ITS 835Chapter 6Strategic Risk Management at the LEGO Gr.docxvrickens
ITS 835
Chapter 6
Strategic Risk Management at the LEGO Group
Enterprise Risk Management
Professor Michael Solomon
Introduction
• LEGO Group history
• Strategy
• Legacy risk management
• Enterprise risk management at LEGO
• Initial ERM
• Monte Carlo simulation
• Active Risk Assessment of Business Projects (AROP)
• Preparing for Uncertainty
• The PAPA model
• Risk management ROI
LEGO Group History
• Headquarters in Billund, Denmark
• Family owned
• Second largest toy manufacturer (globally)
• Founded in 1932
• Iconic bricks first introduced
• Bricks manufactured since 1958 fit with one another
• 2400 different brick shapes
• Manufactured in plants across four countries
LEGO Strategy
• LEGO mission
• “Inspire and develop the builders of tomorrow”
• LEGO vision
• “Inventing the future of play”
• Growth strategy
• Innovation strategy
ERM at LEGO
• Risk management developed in 4 stages
• Step 1: Enterprise risk management
• Step 2: Monte Carlo simulations
• Step 3: Active Risk & Opportunity Planning (AROP)
• Step 4: Preparing for Uncertainty
• Order is by initiation sequence
• Steps 1 & 2 are damage control
• Steps 3 & 4 are proactive
ERM Step 1: Enterprise Risk Mgmt
ERM Step 2: Monte Carlo Simulations
• Monte Carlo simulation
• Method of evaluating the effect of input variances on a model of
a complex system
• In short, it helps to see how input variances affect outcomes
• Helps to define risk tolerance
• Implemented in three areas
• Budget simulation
• Credit risk portfolio
• Consolidation of risk exposure
ERM Step 3: AROP
• Active Risk Assessment of Business Projects (AROP)
• Formal approach to defining and handling project risk
• Includes multiple steps
• Identification
• Assessment
• Handling
• Reassessment
• Follow-up
• Reporting
ERM Step 4: Preparing for Uncertainty
• Preparing for Uncertainty
• Defining and Testing Strategies
• Workshops precede strategic planning sessions
• Four scenarios
• Agree on two key drivers of uncertainty
• Describe each of four quadrants of 2x2 matrix
• Define strategic issues
• Actions to take
• “who is doing what by when?”
The PAPA Model
• Park, Adapt, Prepare, Act: PAPA
• Park
• Adapt
• Prepare
• Act
Risk Management ROI
• Strong support from upper management
• Efforts have resulted in value
• Many LEGO key planning processes now include risk
management
• More visibility of enterprise risk
• More opportunity to address risk
Summary
• Risk management is not risk aversion
• ERM allows LEGO to take risks when appropriate
• Grow
• Create value
• LEGO strategic risk management mission
• “Drive conscious choices”
ITS 835
Chapter 9
Lessons from the Academy: ERM Implementation in the
University Setting
Enterprise Risk Management
Professor Michael Solomon
Introduction
• Higher education environment
• ERM in higher education
• Adopting ERM in Colleges and Universities
• The University of Washington case study
• Summary
Higher ...
Julia Graham
Technical Director and Deputy CEO, Airmic
Immediate Past President and Board Member, FERMA
The Fourth Revolution Managing risk in a changing world Are you a tenant or an owner?
5th April 2016
Moscow
Corporate trainings provide tomorrow's leaders with skills and knowledge required to make an impact in the business world, Well trained managers develop their competence to think strategically, function more efficiently while gearing up to be instrumental in long-term overall business leadership success.
We’re pleased to launch our comprehensive industry wide ‘Risk Training services’ customized as per your organizational needs which covers entire spectrum of functional, professional knowledge building & skills development areas suitable for your workforce capability enhancement leading to deliver high performance business results.
Using the FRM® to Build your career.
For more information on this video, and to sign-up for our 10-day Free CFA Course click here:-http://www.edupristine.com/courses/frm-garp-financial-risk-manager/To know more about these trainings, do contact us at -M: +91 80800 05533
This is an example of a deck for the decision makers (generally the board of directors) to first explain that data protection is a (reputational, legal, operational) risk that - like any other business risk needs to be managed. Then it allows for some explanation of the status of data protection (law) and the main novelties under the GDPR. It then highlights the main changes required in project mode and (later on, after the handover) in business-as-usual mode.
Extra reference to the Vlerick reference (because published after the publication of this slide deck): http://www.vlerick.com/en/programmes/management-programmes/digital-transformation/digital-transformation-insights/insight-1)
Bovill - the UK financial services regulatory consultancy - runs regular briefings. These are the slides from the February briefing on anti-money laundering. For more information visit http://www.bovill.com/FinancialCrime.aspx.
Information on the event is below:
Taking a company-wide approach to money laundering
“The FCA has made it very clear that responsibility for the overall culture of firms sits at the top. We need leaders and senior managers within the industry to set the tone for how their staff behave.”
Tracey McDermott, Director of Enforcement and Financial Crime, FCA
The regulator has recently reiterated their intention to carry out further thematic and enforcement work in financial crime. However, many firms still have a fragmented approach to managing the risks of money laundering.
The responsibility for preventing financial crime is shared across the firm from the back office to the boardroom. Firms need to take a company-wide approach to tackling money laundering to ensure they are complying with regulation and managing risks effectively.
Bovill’s briefing looked at Anti-Money Laundering (AML), covering:
• Governance arrangements: as the foundation for effective communication and issue resolution
• Risk management: the difficulties of negotiating the right level of due diligence for higher risk customers and what tools can be used to help with this process
• Systems and controls: ensuring that these are fit for regulatory purpose and are appropriately maintained within your firm.
Improving risk-return and resilience through Enterprise Risk Management — Jul...Ian-Edward Stafrace
The incentive for organisations to be resilient goes well beyond merely avoiding disaster. Companies confident in their risk management can be more enterprising, thereby not only identifying risks but also seizing opportunities. Practical examples will also be included in areas such as scenario analysis and risk culture, which will demonstrate the type of knowledge, skills and tools tomorrow’s risk manager needs to have.
Here is the slide deck used by Julia Graham in her presentation at the MARM MAS UOM collaborative event on the value of risk and actuarial functions held in March 2017. http://www.slideshare.net/ianstaf/15-march-2017-half-day-seminar-obtaining-more-value-from-risk-actuarial-functions
ICT Sector Assessment Presentation prepared by IESC's Mehdi Sif and delivered in a public workshop in 2004, middle east telecommunications sector assesment, Free Trade Agreement, IESC, USAID, International Executive Service Corps
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
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how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
2. Risk management
• relatively new and developing discipline
• growing importance in recent years
• financial crisis brings attention on how risk is
managed
• public perception and awareness of risk is increasing
• core competence in many industries
3. recent risk related events on media
• EURO currency under pressure
• Europe in debt - sovereign rating downgrading
• Greece critical situation
• Banking issues: capitalization, compensation, layoffs
• Commodities prices fluctuations
• Middle-east political situation
• LIBOR manipulation scandal
4. Have you ever been
investing actively on stock exchange?
working for financial institution (or corporation)?
applying for credit in a bank?
running your own business?
involved in extreme sports?
travel to less developed countries on your own?
6. organizational issues
• 15 seminars, each Tuesday
• presence not mandatory (but rewarded)
• method of study: lectures, exercises, case studies
• materials will be published on dropbox
• examination based on course contents
• suggested books & internet sites facultative only
• any questions - please ask
8. how to get materials from
• use public link (registration not needed):
– http://dl.dropbox.com/u/1353770/Risk/RM-01.pptx
• replace ‘01’in ‘RM-01’ with correct seminar number
• additional materials file names will be provided
9. interesting reference books
• Fundamentals of Risk Management for Accountants and
Managers: Tools & Techniques, Paul M. Collier, CIMA, 2009
• The Essentials of Risk Management, Robert Mark, Dan Galai
and Michel Crouhy, McGraw-Hill, 2005
• Fundamentals of Enterprise Risk Management, John
Hampton, Amacom, 2009
• Financial Risk Manager Handbook, Philippe Jorion, Wiley
Finance, 2009
10. risk management on internet
• Newspapers, e.g.: Financial Times or Wall Street Journal
• The Institute of Risk Management - www.theirm.org
• Financial Risk Management News & Analysis - www.risk.net
• The Business Insurance - www.businessinsurance.com
• Risk Management Professional - www.rmprofessional.com
• Risk Management Magazine - www.rmmag.com
11. risk management on internet (II)
• GARP - Global Association of Risk Professionals -
www.garp.org (FRM certificate)
• PRMIA - Professional Risk Managers' International Association
- www.prmia.org (PRM certificate)
• Calculated risk - www.calculatedriskblog.com
• Clusterstock - www.businessinsider.com/clusterstock
• Deal Book - dealbook.nytimes.com
• RM Monitor - www.riskmanagementmonitor.com
12. What are your expectations
on this course
what you would like to learn here?
what will be most interesting?
14. course content
• introduction to risk & risk management
• risk management principles, process and techniques
• financial markets & crisis in risk management perspective
• financial risk management: market risk, credit risk,
liquidity risk
• operational risk management
• business / strategic and hazard risk management
• practical application on stock exchange, in investment,
banking, insurance, enterprise, for private individuals
• risk management in projects
15. why study risk management?
• investing on stock exchange
• working in finance industry (e.g. banking or
insurance)
• working as manager in enterprise or corporation
• working in advisory or government institutions
• running a company
• managing own career and personal finance
• working as project manager and being involved in
projects
16. contact me at
tomkacy@gmail.com
Tomasz Aleksandrowicz
