Efficient Risk Management System Research Articles

Occupational health risk assessment at healthcare institutions: Developing a semi-quantitative risk method.

Environmental hazards in healthcare institutions affect the quality of patient care as well as personnel and patient safety. The aim of this study was to develop and apply a semi-quantitative risk assessment method to calculate occupational health risk levels with regard to the sensitivities of healthcare institutions. The present research was conducted in three phases. In phases 1 and 2, the model was developed using a review of different risk assessment methods, extracting expert opinions (N =10) through semi-structured interviews, and using the fuzzy analytical hierarchy process (FAHP). In phase 3, in order to validate the proposed method, one of the five public hospitals was randomly selected and a case study comprising 6 sections was performed. A total of 43 health risks were identified and evaluated using the present method, 41.86% of which were at very high levels, 16.27% at high levels, 30.23% at substantial ones, 9.3% at medium and 2.32% at low levels. The highest health risks were found in paraclinical and operating room wards. To overcome the shortcomings of the proposed health risk assessment methods, a semi-quantitative method was used in the present study to more accurately calculate the risk levels in the healthcare institutions and also calculate the risk level of each hospital unit. The proposed semi-quantitative method can be used as a tool for assessing occupational health risks as a key element of risk management. In addition, by focusing on an appropriate framework for occupational health risk assessment, specialists in the organization will be able to take significant and effective steps to implement an efficient risk management system.

Major accidents in Norwegian fish farming

The Norwegian fish farming industry is experiencing accidents that may have serious consequences for fish-farm operators, the environment, and the farmed fish themselves. Fatalities and serious personnel injuries, mass mortality of fish during and after operations, introgression of genes from farmed salmon, the spread of disease and material damage to assets are among the consequences. The reputation of the industry and the market value of its products may also suffer as a result of such incidents. Other industries have developed regulations aimed at preventing incidents called major accidents, which are usually defined as accidents that have different characteristics than occupational accidents. A holistic and efficient risk management system needs to cover all types of incidents. In spite of serious accidents, regulators have yet to adopt a holistic approach to the prevention of major accidents in Norwegian aquaculture. Here, we describe and discuss five main risk dimensions in the aquaculture industry that provide a holistic view of the complex risk picture of fish farming; fish welfare, personnel safety, risk to the environment, economic loss and food safety. Hazards that emerge in the fish production process and in the local environment, have consequences both for the fish farm and for society as a whole. On the basis of characteristics drawn from definitions of major accident regulations in other industries and the risk dimensions of fish farming, we propose a general definition of major accidents. The definition is discussed based on the type of risks that occur in fish farming, and with an emphasis on accidents that have happened in the Norwegian aquaculture industry. The occurrence of major fish farming accidents shows that a systemic approach to safety and risk management is needed. Regulators and industry are already looking to the offshore petroleum industry in order to develop and adapt technology and risk management for aquaculture. Approaches to risk regulation in the two industries are discussed and some differences pointed out. Barrier management is one of the potentially holistic and systemic major risk management methods required in offshore regulation that is seen as a possible way forward for the fish farming industry, and we offer some reflections on adopting this method to fish farming.

Awareness of Risk Management Practices System in Indian Commercial Banks-A Perception based Analysis

A sound and reliable banking system is a significant feed for accomplishing economic growth all the way through the mobilization of monetary resources, placing them to dynamic use and transforming various risks. With progressive deregulation and liberalization of the Indian financial sector, banks are increasingly exposed to various kinds of risks such as credit risk, market risk, operational risk, liquidity risk, foreign exchange risk, interest rate risk, etc. which may threaten a bank's survival and success. Risk is a condition that raises the chance of losses/gains and the uncertain potential events which could manipulate the success of financial institutions. A well established risk management practices can assist banks to reduce their exposure to risks. Only those banks that have efficient risk management system will survive in the market in the longrun. For this reason, efficient risk management is absolutely required. The purpose of this research is to examine the degree of awareness in Indian banks about risk management practices among the bank employees at the grassroot level. The secondary objective is to compare the awareness about the risk management practices between the public, private and foreign banks of India.

The Effect of Financial Risk Management on the Financial Performance of Commercial Banks in Kenya

An efficient risk management system is the need of time. Managing risk is one of the basic tasks to be done, once it has been identified and known. The risk and return are directly related to each other, which means that increasing one will subsequently increase the other and vice versa. The purpose of this study was to analyze the effect of financial risk management on the financial performance of commercial banks in Kenya. In achieving this objective, the study assessed the current risk management practices of the commercial banks and linked them with the banks’ financial performance. Return on Assets (ROA) was averaged for five years (2008-2012) to proxy the banks’ financial performance. To assess the financial risk management practices, a self- administered survey questionnaire was used across the banks. The study used multiple regression analysis in the analysis of data and the findings were presented in the form of tables and regression equations. The study found out that majority of the Kenyan banks were practicing good financial risk management and as a result the financial risk management practices mentioned herein have a positive correlation to the financial performance of commercial banks in Kenya. Although there was a general understanding about risk and its management among the banks, the study recommends that banks should devise modern risk measurement techniques such as value at risk, simulation techniques and Risk-Adjusted Return on Capital. The study also recommendsuseofderivativestomitigatefinancialriskaswellasdevelop training courses tailored to the needs of banking personnel in risk management.

Risk Management in Indian Banks: An Evaluation through Z Risk Index

Nothing is constant but risk in today's dynamic environment. Banking is the business of risks and all banks are exposed to a variety of risks viz. a viz. credit risk, liquidity risk, foreign exchange risk, market risk and interest rate risk. It is very important to handle these risks in a pre-emptive, proficient and cohesive manner to maintain sound financial health of a bank. The purpose of this empirical study is to make an assessment as to how far Indian banks have been successful in achieving their objectives of minimizing the negative effects that risks can put on the financial results and capital of a bank. The need of the hour is an efficient risk management system comprising risk identification, measurement and control. An effort has been made to assess the financial health of the commercial banks in India by analyzing their riskiness and the probability of being insolvent. The insolvency risk for 73 Indian banks (26 public sector banks, 20 private sector banks and 27 selected foreign banks) using Z-Index along with the probabilistic prediction of their book value bankruptcy over a period of nine years i.e. from 2005–06 to 2013–14 has been analyzed and a comparative analysis among public, private and foreign banks to examine the probability of their book value bankruptcy has been made.

The Risk Management in Indian Banks: An Evaluation through Z Risk Index

Nothing is constant but risk in today’s dynamic environment. Banking is the business of risks and all banks are exposed to a variety of risks viz. a viz. credit risk, liquidity risk, foreign exchange risk, market risk and interest rate risk. It is very important to handle these risks in a pre-emptive, proficient and cohesive manner to maintain sound financial health of a bank. The purpose of this empirical study is to make an assessment as to how far Indian banks have been successful in achieving their objectives of minimizing the negative effects that risks can put on the financial results and capital of a bank. The need of the hour is an efficient risk management system comprising risk identification, measurement and control. An effort has been made to assess the financial health of the commercial banks in India by analyzing their riskiness and the probability of being insolvent. The insolvency risk for 73 Indian banks (26 public sector banks, 20 private sector banks and 27 selected foreign banks) using Z-Index along with the probabilistic prediction of their book value bankruptcy over a period of nine years i.e. from 2005-06 to 2013-14 has been analyzed and a comparative analysis among public, private and foreign banks to examine the probability of their book value bankruptcy has been made.

Flood Risk Exposure in Austria – Options for Bearing Risk Efficiently

Abstract Due to its topography, Austria is exposed to many natural hazards. Inadequate spatial planning aggravates natural exposure to risks, 12% of all buildings are potentially exposed to flooding almost 9% are considered to be at an extreme risk. Reinforcing precautionary measures is a prerequisite for an efficient risk management system that will be ready to meet future challenges. In an efficient risk management system the Austrian government's relief payments after catastrophic events should be substituted by a broad (mostly compulsory) insurance against natural hazards. The strong involvement of government in the provisions of precautionary measures against natural disasters and its role during emergencies should be better co-ordinated with private measures. JEL Classifications: Q54, G28, G22

Risk Management in Commercial Banks (A Case Study of Public and Private Sector Banks)

Banks are in the business of managing risk, not avoiding it Risk is the fundamental element that drives financial behavior. Without risk, the financial system would be vastly simplified. However, risk is omnipresent in the real world. Financial Institutions, therefore, should manage the risk efficiently to survive in this highly uncertain world. The future of banking will undoubtedly rest on risk management dynamics. Only those banks that have efficient risk management system will survive in the market in the long run. The effective management of credit risk is a critical component of comprehensive risk management essential for long-term success of a banking institution. Credit risk is the oldest and biggest risk that a bank, by virtue of its very nature of business, inherits. This has, however, acquired a greater significance in the recent past for various reasons. Foremost among them is the wind of economic liberalization that is blowing across the globe. India is no exception to this swing towards market-driven economy. Better credit portfolio diversification enhances the prospects of the reduced concentration credit risk as empirically evidenced by direct relationship between concentration credit risk profile and NPAs of public sector banks. . a bank's success lies in its ability to assume and aggregate risk within tolerable and manageable limits.

化学物質の自主管理における企業内システムと専門家の関与に関するインタビュー調査

Under the circumstance that autonomous risk management for chemicals is required in Japan, it is necessary to define fundamental steps for developing chemical management system that are applicable in various types of companies and to understand the effective contribution of chemical or occupational health specialists to the system. For the purposes, we conducted interviews with companies which have an advanced chemical management system in Japan. As the result, each company had a certain policy about detailedness level of collected hazard and exposure information, and also had an efficient risk management system to ensure workers' health in depending on the business type and situations. Moreover, it was commonly observed that the specialists played major roles in developing tools for risk assessment and control, and then business lines led execution of the risk management with their supports. Based on the interviews, we showed a hypothesis of basic steps in introducing autonomous chemical risk management system at the workplaces. It is necessary to verify the hypothesis and to develop a simple system that is applicable to middle or small size companies as the next step.