Risk Governance Research Articles

Co-defining a user-based desirable future for seismic alert systems with stakeholders: application to martinique, French west indies

Since we cannot predict earthquakes, it is critical to better anticipate them and thus to save time in enabling timely implementation of appropriate protection measures. To this end, several types of tools based on real-time monitoring have been proposed over the past ten years, namely: Operational Earthquake (or Aftershock) Forecasting, (ii) Earthquake Early Warning and (iii) Rapid Response to Earthquakes systems. This paper assesses the opportunity to transfer these three socio-technical systems into operational tools for the territory of Martinique (French West Indies), and more generally for the Lesser Antilles regions.The research design relies on an user-centered approach based on an in-depth three-steps consultation of stakeholders in the territory of Martinique, by implementing (i) an online survey, (ii) a targeted interview with key actors and finally (iii) a workshop bringing together all stakeholders. This sequential consultation approach enables to start from individual considerations and to progressively refine the diagnosis of the applicability of earthquake alerting tools, first for each type of entity, then for the territory as a whole. Coupled with an analysis of international experience in seismic alerting and the regional context of seismic risk governance, this leads to the elaboration of perspectives at three scales: (i) the local scale of Martinique, (ii) the regional scale of the French West Indies on one hand, and of Lesser Antilles on the other, and (iii) the international scale. In particular, the findings of this study emphasize the need for an “informational continuum” of decision support for practitioners before, during and after the occurrence of earthquakes and their aftershocks. This leads to a reconsideration of Operational Earthquake Forecasting, Earthquake Early Warning and Rapid Response to Earthquakes systems as intrinsically complementary, while not having the same level of operational applicability.

Content Analysis of Disaster Risk Reduction in Secondary School Geography Textbooks in China and the United States: Promoting Disaster Resilience through Geography Education

Geography education plays an important role in the promotion of disaster resilience; however, the relationship between geography education and disaster resilience has failed to attract systematic attention in China and the United States (US). This study compares the contents regarding disaster risk reduction in secondary school geography textbooks in China and the US to explore the contributions of geography education to promoting disaster resilience. These textbooks are analyzed using content analysis based on the Sendai Framework with four actions. This study finds that geography textbooks in China and the US include disaster risk reduction content; however, the contents are unevenly distributed, with “understanding disaster risk” and “enhancing disaster preparedness” accounting for a higher proportion, whereas “strengthening disaster risk governance” and “investing in disaster risk management to enhance resilience” account for a lower proportion. The results indicate that geography education plays an important role in enhancing disaster resilience and can strengthen students’ understanding and preparedness for disaster risks. Meanwhile, this study points out the shortcomings in current disaster risk reduction education and provides a reference for improving educational practice and policy formulation.

Ethical Impact Assessment of Sharing Nanosafety Data

Decades of research on environmental, health and safety impacts of nanomaterials have generated large amounts of nanosafety data, but not all data are available online following the Findable, Accessible, Interoperable, and Reusable (FAIR) principles. This lack of FAIR data delays progress in regulatory research, needed by regulators to develop evidence-based policies. In this context, researchers collaborating in the EU NanoSafety Cluster (www.nanosafetycluster.eu) engaged in a discussion on the ethical impacts related to (not) sharing nanosafety data. Screening the potential ethical impacts suggested that openly sharing nanosafety data relevant to risk governance of nanomaterials could give rise to ethical issues related to health and to liberties, and that these data might be misused. On the other hand, not openly sharing such nanosafety data could raise issues related to health, equity, common good, environment, and sustainability. A small-scale Ethical Impact Assessment (EIA) was performed between June 2022 and April 2024 to identify and evaluate more specific ethical issues and to propose recommendations for remediating ethical concerns. Preliminary results were presented in scientific conferences (one poster and three oral presentations), while the comments of the participants were incorporated in the final version of the presented paper. The EIA identified ethical issues and value conflicts related to the following sectors: intellectual property, social justice, public health, dual use, environmental ethics and animal ethics. Some recommendations for remediation are the competence of research organisations. Other recommendations call for societal dialogue and engagement. Yet other recommendations call for political action.

Trust and Safety work: internal governance of technology risks and harms

Abstract Trust and Safety work mitigates certain social risks and harms of digital technologies. In a landscape that is only slowly establishing regulatory oversight mechanisms, Trust and Safety work performs a type of internal governance by attempting to mitigate disinformation, online harassment, extremism, and other harms accelerated or amplified by technology products and services. With origins in content moderation, Trust and Safety work now also includes product advice for online services and IRL (in real life) products. Attention to Trust and Safety work can complicate a monolithic view of what tech work is and who does it, as well as point to locations for intervention as we seek to promote Public Interest Technology in globally impactful sociotechnical systems.

Environmental, Social and Governance Awareness and Organisational Risk Perception Amongst Accountants

The relationships between accountants’ environmental, social and governance (ESG) awareness and their perceptions of organisational risk are examined in this study. The emphasis is on the operational, strategic, financial and compliance risks of business organisations. A total of 462 accountants in Hong Kong were included via stratified random sampling and snowball sampling to ensure population diversity. A stratified random approach was used to include factors such as age, gender, income and experience, and snowball sampling amongst professional networks was used to ensure representativeness. A significant positive relationship exists between ESG awareness and risk perception, with environmental and governance factors emerging as the strongest predictors. Accountants with deep ESG awareness, especially in the aforementioned areas, can successfully identify and manage nontraditional risks such as regulatory changes and environmental threats. The findings highlight the need for institutionalising ESG-focused education in accounting and corporate governance to improve risk management capabilities. Increased ESG awareness can ensure responsible and sustainable business behaviour. Future research can expand the sample of accountants to executives and use longitudinal designs to capture the dynamic nature of ESG awareness and risk perception.

Frontier AI developers need an internal audit function.

This article argues that frontier artificial intelligence (AI) developers need an internal audit function. First, it describes the role of internal audit in corporate governance: internal audit evaluates the adequacy and effectiveness of a company's risk management, control, and governance processes. It is organizationally independent from senior management and reports directly to the board of directors, typically its audit committee. In the Institute of Internal Auditors' Three Lines Model, internal audit serves as the third line and is responsible for providing assurance to the board, whereas the combined assurance framework highlights the need to coordinate the activities of internal and external assurance providers. Next, the article provides an overview of key governance challenges in frontier AI development: Dangerous capabilities can arise unpredictably and undetected; it is difficult to prevent a deployed model from causing harm; frontier models can proliferate rapidly; it is inherently difficult to assess frontier AI risks; and frontier AI developers do not seem to follow best practices in risk governance. Finally, the article discusses how an internal audit function could address some of these challenges: Internal audit could identify ineffective risk management practices; it could ensure that the board of directors has a more accurate understanding of the current level of risk and the adequacy of the developer's risk management practices; and it could serve as a contact point for whistleblowers. But frontier AI developers should also be aware of key limitations: Internal audit adds friction; it can be captured by senior management; and the benefits depend on the ability of individuals to identify ineffective practices. In light of rapid progress in AI research and development, frontier AI developers need to strengthen their risk governance. Instead of reinventing the wheel, they should follow existing best practices. Although this might not be sufficient, they should not skip this obvious first step.

A new framework for assessing and dealing with heat risk from an urban resilience perspective

Cities are exposed to increasing environmental threats, having undergone extensive land development and rapid urbanization. Clarifying the effects of urban resilience to risk can provide effective guidance for mitigating heat risk. To our knowledge; however, quantifying these effects from an urban resilience perspective has not been considered in previous studies. Here, we proposed the adaptation-resistance-response heat-related urban resilience assessment system. The system is integrated with the minimum cumulative resistance model to construct a novel heat risk assessment framework. A case study in Shenzhen, China, showed that resilience to heat had a high degree of spatial heterogeneity. More than half of the study area was at a moderate or high level of risk. Our study provided new insights into the differences in heat risk between urban and rural areas. The heat-risk gap between urban and rural areas was lower than that indicated by surface temperatures, due to the diffusion and attenuation of high temperatures. In addition, we discussed the application of resilience to risk governance and emphasize five governance models for risk zoning. The proposed framework facilitated a better understanding of the effect of resilience on risk mitigation, and our results can be used to guide urban planning and risk management.

Stregthening Financial Risk Governance and Compliance in the U.S.: A Roadmap for Ensuring Economic Stability

Stregthening Financial Risk Governance and Compliance in the U.S.: A Roadmap for Ensuring Economic Stability

Review of Causes, Prediction, and Prevention of Systemic Risk

In financial market, people always ignore or underestimate the potential risk of systemic risk until black swan events emerged as an irretrievable crisis. In order to analyze and prevent from crisis that generated by systemic risk, this paper collates and presents detailed review of the causes, prediction, and mitigation of systemic risk by gathering and sifting current theoretical and empirical research. It explores the complexity and interdependence of financial systems and emphasizes how systemic risk is created via endogenous risk generation via the investment decisions of financial institutions and regulatory and market failures. Moreover, it underlines the strong demand of through legislative changes, the importance of enhanced market discipline, and well-crafted government interventions. Deliberative risk governance is presented as a practical and necessary strategy when it comes to addressing stakeholders in the risk management process to achieve legitimacy and consensus. The research ends by advocating for a comprehensive strategy for risk management to strengthen the resilience of the global financial system and reduce the probability of future potential crisis.

ERM strategies for navigating financial stress: Lessons from US commercial banks

This study explores the Enterprise Risk Management (ERM) strategies employed by U.S. commercial banks during times of financial stress, with a focus on the 2008 financial crisis and the COVID-19 pandemic. It investigates how ERM frameworks enable banks to make risk-adjusted decisions and effectively manage credit risk, ensuring both operational resilience and long-term value preservation. The research highlights the critical role of ERM in guiding banks through periods of market volatility, emphasizing the need for a structured approach to risk identification, assessment, and mitigation. Through a detailed analysis, the study examines how commercial banks have adjusted their risk appetite and governance structures in response to economic disruptions, balancing short-term stability with long-term growth objectives. Key ERM components such as capital adequacy, liquidity management, and stress testing are reviewed to demonstrate their effectiveness in safeguarding financial institutions. Additionally, the research discusses the importance of leadership and governance in enhancing risk oversight and fostering a culture of risk awareness across banking operations. The findings offer valuable lessons for financial institutions on how to navigate future financial stresses by leveraging robust ERM frameworks. By examining these strategies, the paper provides insights into the adaptability and resilience of U.S. commercial banks in maintaining financial stability and shareholder value in the face of uncertainty.. Keywords: Enterprise Risk Management (ERM), Financial Stress, Credit Risk Management, Operational Resilience, U.S. Commercial Banks, Governance Structures.

Coupled Analysis of Risk Factor for Tailing Pond Dam Failure Accident Based on N–K Model and SNA

The failure of tailings pond dams represents a complex coupled system involving various risk factors, including human, governance, facilities, and environmental aspects. It is crucial to identify key risk factors at the system level to enhance the safety management of tailings ponds. We analyzed 74 cases of tailings pond dam failure accidents, both domestically and internationally, from the perspectives of human, governance, facility, and environment. We employed the 2–4 Model to identify and extract the causes of dam failures, summarizing these into four primary risk factors and 40 secondary risk factors, while constructing a risk coupling mechanism model. The natural killing (N–K) model was implemented to analyze the risk coupling values of primary risk factors and quantify these couplings. The N–K model facilitated an analysis of the risk coupling values of first-level risk factors, while social network analysis (SNA) was employed to visualize the relationships among second-level risk factors and assess the centrality and accessibility of nodes within the risk factor network. The out-degree of the risk nodes was corrected by integrating the N–K model with the SNA, leading to the identification of key risk factors associated with tailings pond dam failures and the formulation of corresponding safety prevention and control strategies. The findings indicate that managing multi-risk factor coupling is an effective approach to mitigating the occurrence of tailings pond dam failure accidents. Notably, unfavorable environmental risk factors significantly contribute to the coupling of human–governance–facility–environmental risks, necessitating targeted management strategies. Furthermore, inadequate safety supervision, weak safety awareness, inadequate receipt and inspection, and irregular operation represent additional key risk factors requiring focused prevention and control efforts.

Indicators of the effectiveness of the internal audit function within public organizations

Until today, the internal audit function continues to forge its place and importance within organizations regardless of the sector or area of their activities, internal auditors help public entities achieve their strategic objectives and maintain compliance with relevant regulations. This paper examines the effectiveness of the internal audit function and its critical role within public organizations, as a pivotal function in ensuring transparency, accountability, and operational efficiency. In order to achieve its goals of providing independent evaluations of risk management, control, and governance processes, this study explores the various factors influencing the effectiveness of internal audit function, such as the internal audit function and the auditors independence, the Internal auditors’ competence, the quality of the internal audit process and the support degree from general management and the audit committee. Based on a focus on theoretical approaches, a proposal of the theoretical model is presented.

The Social Contagion of Risk Perceptions of Emerging Technologies through Evolutionary Game in Networks

Emerging technologies are leading the fourth industrial revolution, bringing profound changes to modern life. However, the contagion of public risk perceptions pertaining to these technologies may result in new social stability risks according to the social amplification of risk framework (SARF). As such, understanding the formation and contagion mechanisms behind public risk perceptions of emerging technologies is critical to promoting their increased receptivity. Based on an evolutionary game theoretical approach to complex networks, this paper constructs a social contagion model of the risk perception of emerging technologies and uses simulations to analyze the influence of factors such as individual cognition and social environment. Results indicate the following: (1) the rate of risk perception contagion gradually increases with the level of individual risk perception and trust in communicators; (2) the risk perception contagion rate gradually decreases as the level of risk governance participation increases; and (3) comparing different social networks, kinship networks have a greater effect than social media networks on risk perception contagion.

Flood adaptation policy alignment with resident perceptions of resilience in Vancouver, British Columbia

Vancouver’s municipal government calls on residents to shoulder some responsibility for flood resilience by directly participating in financing and implementing adaptation measures. This study aims to understand residents’ perceptions of resilience and how it should be pursued. Through an in-person survey (n = 200) we assess how resilience is typically understood by residents and which unique conceptualization (resilience as resistance, recovery, or creative transformation) they believe should be targeted by flood policies. Resilience perspectives are analyzed alongside results of a systematic policy analysis (n = 51) to assess their alignment with flood risk management efforts currently in place in Vancouver. Findings indicate that most survey respondents feel increasing resilience is more important than reducing vulnerability, and most participants prefer resilience as creative transformation. The City’s current approach, characterized by structural protection and flood accommodation tools, does not align with residents’ dominant perceptions of resilience. This disconnect has implications for the legitimacy of the City’s flood risk governance arrangements.

Effectiveness of Risk Management through Risk Maturity Measurement: A Study at PT Pelabuhan Indonesia

This research aims to evaluate the effectiveness of risk management at Pelindo post-merger and assess its risk management maturity level. Additionally, the study intends to offer relevant recommendations for the company in developing its risk management strategy and implementation. The research adopts a qualitative descriptive approach with a case study strategy, where the researcher analyzes an organization as a unit of analysis in a natural setting without manipulation. Data collection techniques include interviews with representatives from the Group Risk Management, Governance, and Compliance as the corporate-level risk managers. Document analysis includes textbooks, academic and professional journals, theses, articles, and company department reports. Data analysis follows the Miles and Huberman model. The research indicates that the maturity level of risk management at Pelindo post-merger has reached the good practice phase with a score of 2.94. This reflects a consistent application of risk management in accordance with industry standards, although its effectiveness varies. The organizational structure, framework, processes, and risk culture have begun to be implemented. Recommendations for improvement include strengthening the risk culture, enhancing the effectiveness of risk management functions, and aligning risk strategies with the ERM transformation plan for better effectiveness and compliance.

Dynamic Analysis and Temporal Governance of Safety Risks: Evidence from Underground Construction Accident Reports

Due to the complexity and dynamics of underground construction projects, safety risk management has experienced significant challenges restricting the sustainable development of underground space. The research on risk causal chains and risk coupling has yet to reveal the dynamic interactive characteristics of these risk factors and their temporal relationships over time. This study utilized a complex system view for safety risk analysis, using 37 accident investigation reports of underground construction projects. Combined with two novel and emerging analytical methods, temporal qualitative comparative analysis and crisp-set qualitative comparative analysis, this study discusses the temporal relationship of risk factors to the cause of accidents and explores the multi-actor coupling characteristics of management risk. The findings indicate that (1) compared with general construction projects, underground construction should pay more attention to management safety risks because they have an obvious time lag effect expressed in all accident causation paths, namely, preceding management risk, management risk, and machine/material risk cross-concurrently, and management risk initiation and (2) underground construction project management risks have three key main paths, namely, single-actor-dominated management deficiency (supervisors, owners, and subcontractors that cause management risks as a single-core actor) and dual-actor-dominated management deficiency (owner and subcontractor as dual core actors of management risk). Multi-actor-dominated management deficiency (owners, subcontractors, and supervisors are the multiple core actors of management risk). This study thus developed a temporal governance framework of underground construction safety risks based on the synergy of multi-actors and proposed risk governance strategies, such as synergistic multi-actor governance, to consider the temporal relationship of safety risk. This study further reveals the temporal and coupling characteristics of safety risks to enrich the risk casual chain theory and risk coupling theory and establish a systematic risk analysis framework for new guidance for safety and risk management for underground construction projects.

Balancing efficiency and public interest: The impact of AI automation on social benefit provision in Brazil

This article examines the implementation of artificial intelligence (AI) systems by Brazil's National Social Security Institute (INSS) to automate the granting of social benefits. Using audit reports from government agencies, it analyses the efficiency improvements brought about by AI, such as the speed with which benefits are granted, as well as the unintended consequences of this automation, such as the increase in the number of automatic denials and the creation of barriers for less digitally literate users, disproportionately affecting the most vulnerable populations. The research points to the need for transparency, public justification, adequate risk monitoring tools, governance design, and participation in the implementation of these systems to ensure that they serve the public interest and promote equity. The paper argues that without proper regulation and consideration of ethical principles, AI automation could exacerbate inequalities and undermine trust in public services. The authors conclude by stressing the importance of a balanced approach that weighs in both technological innovation with the public interest.

Strategies for Mitigating and Managing Risks in Bank Investments

This paper suggests that while studies of banking risk management often emphasize analytics and stress testing to improve risk governance, there is too little emphasis on historical case studies to generate comprehensive risk management strategies. Using numerous case studies, the paper suggests four categories of risk - market risks, credit risks, regulatory risks, and operational risks - that impact overall investment outcomes. By extensively reviewing both historic failures and historic successes, the paper highlights the importance of understanding different types of risks and adopting strategic measures to manage them effectively. Emphasis is placed on the necessity of a diversified investment portfolio to mitigate market volatility and credit exposure. Additionally, the paper provides actionable strategies for navigating regulatory complexities and operational challenges, supported by real-world case studies and practical examples. This research aims to equip investors with valuable insights and tools to optimize investment opportunities while minimizing potential risks in the banking sector.

Multi-hazard susceptibility mapping of landslides and earthquakes in Bhagirathi Valley region of Uttarakhand Himalaya, India

ABSTRACT This study addresses impact of increasing frequency of natural hazards, particularly in mountainous regions like the Himalayas. The research develops a comprehensive multi-hazard susceptibility mapping methodology. . The integrated methodology involving majorly machine learning, remote sensing and GIS tools is applied to generate the multi-hazard susceptibility map of the test site. This integrated approach offers a nuanced understanding of hazard interactions, providing a robust framework for disaster risk reduction, government and non-government agencies in planning future developmental projects and infrastructures in the study area. The study’s findings show that 11.30% of the area is labeled as highly susceptible to multi-hazards.

The Opportunities and Challenges of ChatGPT for Ideological and Political Education of College Students

In the 21st century, humanity ushered in a wave of artificial intelligence. In the context of big data, generative artificial intelligence has become an important auxiliary tool in the field of education. ChatGPT has gradually entered the learning life of students and reflected its value in ideological and political education in particular. Through a questionnaire survey, this article takes college students as the research object and aims to grasp their evaluations of using ChatGPT and their views on its application in the field of ideological and political education. Research has found that ChatGPT has advantages in optimizing ideological and political evaluation and management systems, helping students understand political theories, enriching teaching models, and meeting the personalized needs of students. The integration of ChatGPT into the class can not only improve teaching quality but also enhance student's learning efficiency and interest. However, the arrival of ChatGPT has also raised a series of ethical risks, such as spreading incorrect information, personal information leakage, academic misconduct, shallow thinking among students, and alienation of teacher-student relationships. In response to these problems brought about by ChatGPT, this article also proposes corresponding risk governance policies. It is necessary to establish a legal supervision mechanism, improve the level of software research and development, enhance the information literacy of teachers and students, and strengthen academic standardization awareness.