With the economy performing the worst it has since the great depression, and the US Government having to spend trillions of tax payer dollars to bail out investment banks and insurance companies, it is clear that far more effective risk management practices must be put into place. It is absolutely sickening that hard working US taxes payers are stuck flipping ... [full story]
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The accredited programme and risk management training consultants, AFA, are proud to announce a recent addition to their website MSP and M_o_R resources section. AFA worked closely with their trainers to develop this addition to their resource section. ‘After creating our PRINCE2 resources section just 6 months ago we have had proven success with over 7000 unique visitors ... [full story]
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China has urged its centrally-administered State-owned Enterprises (SOEs) to reinforce their overall risk management in the mid of global financial crises. The State-owned Assets supervision and Administration Commission of the State Council (SASAC) said in an announcement on Thursday that it has become increasingly urgent for SOEs to step up their risk management, when the financial turmoil triggered ... [full story]
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ICW Group Insurance Companies, a leading group of carriers, announced today that it will provide new and existing Workers' Compensation customers with a free on-line risk management service called Risk Management Rx, or simply RMRx. RMRx provides next generation on-line risk management tools that help companies simplify the challenges of developing and implementing an effective workplace safety program. RMRx includes ... [full story]
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China's top banking regulator issued guidelines to strengthen risk management and guard against financial turbulence as it urged domestic banks on Saturday to draw lessons from U.S. financial woes. 'We must definitely draw lessons from the U.S. financial crisis, be more prudent, do our own business well, lay a solid foundation and solidly improve our risk management capabilities and ... [full story]
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Financial services organisations are putting an increasing focus on enterprise-wide risk management strategies, but many are still finding practical implementation a challenge, according to new research released today by reporting and analytics firm SAS. The report, carried out by the Economist Intelligence Unit, surveyed over 300 senior financial services executives and found that 59 per cent had been forced ... [full story]
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The new millennium brought a great deal of change in the marketplace. As the financial scandals of the 1990s came to light, new regulations were drafted and put into place to avoid such occurrences in the future. U.S. financial institutions must comply with the Sarbanes-Oxley Act, which came on the heels of the Enron scandal, and the portions of the ... [full story]
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Financial services organisations are trying to increase profit and growth targets against a background of heightened risk, regulation and market pressures. Nowadays cutomers demands are in the face of increasing personal wealth, more private funding of pensions and healthcare and the desire for ever more accessible and personalised financial products and services. Also, immense competition has made organization ... [full story]
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Small Industries Development Bank of India (SIDBI) has invited Expressions of Interest (EoIs) from consultancy organisations to enable the company put in place Basel II compliant integrated risk management system for all its operations. The consultant would have to review the entire risk management framework of SIDBI for its operations and suggest, design and implement approved Basel II compliant ... [full story]
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Learn to Write Proposals are pleased to announce the latest tools and resources available on the www.learntowriteproposals.com. Risk Management is an important part of every business project and clients are requiring suppliers to analyse and present risk in their proposals. However, many small businesses aren’t sure about how to assess and present risk in their proposals. Learn to ... [full story]
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The GCS Group has launched their newly developed tool for facilitating Case Management for their clients online. This intuitive web based application provides case managers a flexible and versatile tool for accessing and managing cases at anytime from anywhere. They can manage cases and quotes using the CMS and streamline their business processes by ready access to case status, ... [full story]
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The American Industrial Hygiene Association (AIHA) will host "What Industrial Hygienists Should Know About Risk Management and Insurance," an intermediate TeleWeb Virtual Seminar on August 19, 2008, from 2–4:30 p.m. ET. In recent years, many industrial hygiene programs have been involved in organizational re-alignments, shifting from stand-alone units to assimilation into comprehensive environmental health and safety programs. Such shifts ... [full story]
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Exposure to changes in interest rate, currency, equity and commodity markets is a fact of life but effectively measuring and managing those risks can mean the difference between profitability and loss. Selecting the product and risk hedging strategy that makes sense for a particular company and situation requires care and a solid understanding of the financial instrument tools ... [full story]
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St. Paul, MN, July 15, 2008 -- Powel Inc. announced that it has formed a partnership with URMC to deliver empirical, risk-specific inventory and analysis data within a hosted service to utility companies. Under the agreement, Powel will integrate its software suite into URMC's utility-focused risk management solution, allowing for the customization of Powel's software to better serve URMC's customers. ... [full story]
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Univa UD CEO Jason Liu will lead a session at the CIO Business Continuity Forum on Tuesday, July 15th, discussing the characteristics, benefits and enabling technologies of grid, utility and cloud computing. This session will provide beneficial information to attendees looking to understand this technology as a business proposition. Produced by CIO and CXO Media as part of their ... [full story]
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Risk management is one of the essential phrases in project management these days so I’m going to go out on a bit of a limb when I suggest that it’s actually not that important. Understanding the concepts of risk management will be useful for you but I have rarely, if ever, seen it used properly. The basic concept of ... [full story]
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Triple Point Technology®, the leading global supplier of cross-industry commodity and energy trading, risk management and logistics software solutions, announced today that Seaboard Overseas Ltd, the eminent food processing and ocean transportation company, has selected Commodity XL for Agriculture™ to manage its commodities trading and risk operations. Seaboard Corporation has been in business for over 90 years and employs ... [full story]
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Risk Management Solutions (RMS) has unveiled its new portfolio management platform, Miu, which supports the trading of insurance risk using RMS' leading catastrophe risk analytics. A bulletin from RMS' London office said: "Miu allows users to quickly quantify and tailor a portfolio of catastrophe risk positions packaged in any form: catastrophe bonds, over-the-counter (OTC) derivatives, sidecars, industry loss warranties ... [full story]
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Visionet's MERM is a workflow and rules engine based system used to Define, Measure, Analyze, Improve & Control (DMAIC) and report on operational risk performance of a mortgage business. Visionet recently finished an end-to-end rollout of the system at another top 10 mortgage bank. The system is being used to monitor underwriting practices, ensure quality, track deficiencies, manage repurchases and ... [full story]
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According to many independent surveys, IT project failure is endemic - with a recent study by the Information Systems Audit and Control Association (http://www.isaca.org/) of 400 UK IT professionals finding nearly half of IT projects never make it to full implementation because of a failure to deliver. Furthermore, according to a landmark 2003 KPMG survey, between 5 and 15% of ... [full story]
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Critical review of the situation in Nigeria over the years shows that one of the problems confronting the nation’s banking system has been that of poor risk management, says J. G. DonliDonli, director of research, Nigeria Deposit Insurance Corporation (NDIC). He disclosed this at the Risk Management Association of Nigeria (RIMAN) eight annual national conference/annual general meeting in Lagos. ... [full story]
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Lombard Risk Management Plc. said the overall profit in the second half was not sufficient to eliminate first half losses, so the group will report an overall loss for the year, but this will be 'substantially below' the loss reported in the 2007 financial year. The regulatory, risk management and valuation software provider said its revenues for the full-year ... [full story]
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Companies that produce, use, process or market nanomaterials are confronted with specific unknown risks inherent to these substances. A new tool by the Innovation Society and TÜV SÜD now also allows smaller companies, research institutions and retailers to gain a well-founded overview of the actual risk situation in their operations. The specific experience of the two partners guarantees that potential ... [full story]
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With a goal of getting IT professionals to use standard terminology and eliminate ambiguity in expressing important risk-management concepts, the Open Group is finalizing a 50-page compendium of "risk-management and analysis taxonomy." The Open Group Security Forum's risk taxonomy of about 100 expressions will not only address seemingly simple words such as threat, vulnerability and risk, but less common ... [full story]
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According to a new study conducted by BT Global Services, the Indian economy has overtaken developed markets when it comes to capitalizing on the benefits of risk management. The study, conducted by Datamonitor involving 2,000 senior executives in the US, the UK, France, Germany, Spain, Sweden, Brazil, China, India and South Africa, revealed that 90 percent of Indian enterprises ... [full story]
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The increased volatility in the global commodities markets will lead to greater spending on risk management IT, according to Datamonitor. The London-based market analyst says demand for oil and raw materials in rapidly developing areas of India and China is offsetting the downturn in the U.S. economy and spurring the growth of commodities trading volumes and prices. Further, the ... [full story]
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IFC, a member of the World Bank Group, has launched a seminar series in Russia to help improve the banking sector’s risk management and capital allocation practices. The initiative targets mainly midsize and regional Russian-owned banks, as well as the broader banking sector. The first seminar, “Liquidity and Interest Rate Risk Management in the International Practice,” was held in ... [full story]
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Trintech Group Plc (Nasdaq: TTPA - News), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that it has been named a "Cool Vendor" in the Gartner report titled "Cool Vendors in Compliance and Risk Management, 2008", published on April 24, 2008. Trintech was included in the report by Gartner analyst John ... [full story]
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James Carrick, investment strategist at Legal & General Investment Management, said: "While the Bank of England anticipates below-trend growth in 2008 and a recovery in 2009, our recession predictor is suggesting concern." Mr Carrick explains that, despite a weaker pound, more indicators today are signaling danger than before the 2001 economic downturn. He said: "The economy is borrowing more ... [full story]
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The Australian Securities Exchange (ASX) welcomes the conclusion in the Reserve Bank of Australia’s (RBA) Review of Settlement Practices for Australian Equities, released today, that current settlement practices have served the Australian equity market well over a number of years. Mr Colin Scully, ASX’s Group Executive, Operations said: “ASX Settlement and Transfer Corporation has processed rapidly rising levels of ... [full story]
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The Planet, the world’s largest privately held dedicated hosting company, today announced that it will host the Houston Techxans quarterly CIO speakers forum at its world headquarters in Houston. Scheduled for May 15, 2008, from 7:30 a.m. to 11:30 a.m., the event – titled “IT Compliance and Risk Management: Bridging the Gap on Governance, Risk and Compliance” – features leaders ... [full story]
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Though calm seems to have returned to credit markets roiled by nine months of financial turbulence, the expectation remains for the increasingly activist Federal Reserve to increase its patrols of the financial system. Fed Chairman Ben Bernanke spoke Thursday in Chicago about the origins of the credit turmoil, which he traced to a series of institutional risk management failures. ... [full story]
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