Implementation Of Risk Management Measures Research Articles

ASSESSMENT AND WAYS TO MINIMIZE THE FINANCIAL RISKS OF THE BANKING SECTOR UNDER FINANCIAL INSTABILITY

The article is devoted to the assessment of financial risks of the banking sector, their impact on the activity of banks and their minimization in conditions of economic instability. The banking sector is a key link that ensures the development of the financial system, but banking activity is risky. Therefore, it is important to study banking risks and ways to minimize them in order to increase the efficiency and stability of the banking system. The article provides a classification of banking risks in accordance with domestic literature. Factors due to which banking institutions are exposed to risks are reflected. Financial risks of the banking sector affect the net profit, capital of the bank. Therefore, the impact of risks on the financial stability and efficiency of Ukrainian banks was analyzed. The bank's regulatory capital is one of the most important indicators of its activity, the main purpose of which is to cover the negative consequences of various risks. During the entire studied period, there is a tendency to increase this indicator, which is positive. Due to external risks, namely the difficult military and economic situation, the profit of Ukrainian banks decreased. The credit risk, which is one of the most significant in banking activity, is characterized. The causes of credit risk in banking are given. The dynamics of the assets of Ukrainian banks, the volumes of loans granted, were studied. It was concluded that in modern conditions of banking activity, there is a slight slowdown in lending to the population and an increase in the volume of loans granted to business entities. To reduce credit risks, commercial banks use various methods to protect against credit risk: diversification, limiting, insurance, risk distribution. The banking sector cannot exist without risk, so it is necessary to look for ways to minimize them. Minimizing the level of financial risks in the banking sector involves the implementation of risk management measures and methods. Measures to minimize banking risks include preventive and protective measures. Banking risk management methods include: methods of avoiding and accepting banking risks. The article reflects the peculiarities of these measures and methods. Keywords: financial risks, banking sector, bank profit, credit risk, bank assets, bank risk minimization.

Blood tests and use of nutritional supplements in a cohort of Brazilian children with trisomy 21

ObjectiveTo describe the use of nutritional supplements and blood status (hemogram, lipidogram, hepatic function, inflammatory markers, minerals, and homocysteine) in a sample of Brazilian T21 children with private health support before their first consultation with a T21 expert. MethodThis descriptive cross-sectional study enrolled 102 participants. Brazilian families with a T21 member under 18 years old were contacted and those that consented answered a survey regarding socio-demographics and the use of nutritional supplements and shared the blood tests that their T21 members have collected for the first consultation with a T21 expert. ResultsFrequencies and percentages were used to describe the variables. The most used supplements included vitamins (A, C and D), minerals (zinc and iron), omega-3, and antioxidants (curcumin). Hypothyroidism was observed in 56.9% of the participants. Hemogram alterations (increased hemoglobin, hematocrit, mean corpuscular volume, mean corpuscular hemoglobin and red cell distribution width, leukopenia, and lymphocytopenia), dyslipidemia, altered hepatic and inflammatory blood markers were frequently found. ConclusionsNutritional supplements (mainly vitamins, minerals, omega-3 and antioxidants) are frequently used by Brazilian T21 children independently of professional counseling and/or supervision and should be a question to be raised during the clinical anamnesis since some of them may impact medical conduct. Moreover, many blood tests are altered in this population and clinicians should be aware of them in order to warrant an appropriate screening and the implementation of risk management measures as soon as possible and improve the general health of these persons.

ОСОБЛИВОСТІ УПРАВЛІННЯ РИЗИКАМИ В АГРАРНІЙ СФЕРІ ЕКОНОМІКИ УКРАЇНИ

The features of risk management in the agrarian sector of the Ukrainian economy are determined. The study of theoretical sources has allowed to identify the basic concepts of risk management. It is established that the risk management system in agriculture includes a set of decisions and actions aimed at reducing various risks arising in the agricultural environment. At the same time, it involves the processes of recognizing and predicting the occurrence of risks, as well as the choice of measures and means to reduce losses in the event of their occurrence. This is especially true for the agricultural sector of the economy, which, in addition to the above, is heavily dependent on natural and climatic factors. Risk management can be defined as a system of operations that links strategy, processes, people, technology and knowledge. Its purpose is to assess the level of risk associated with the fulfillment of the tasks assigned to the enterprise, as well as to take measures to eliminate the consequences of risk situations. Therefore, risk management takes into account all, not only financial threats and opportunities, and its main goal is to maximize the value created by the business entity. This approach to this problem applies to enterprises operating in various sectors of the economy, including enterprises in the field of agriculture. The process of risk management in the agrarian sector of the economy is proposed to be divided into 8 main stages, which cover the necessary measures – risk identification, risk assessment, planning of risk management strategies, implementation of risk management measures, monitoring and control, crisis plan, reporting and documentation, training and provision of information. However, it should be noted that it is important to constantly update the list of risks in agricultural production, as they may change over time. The most important risk management strategies that can be applied in agriculture have been identified. These include diversification of production, use of modern technologies and modernization of the industry, and insurance. The conducted research is of practical importance and allows to reduce the risks of the agricultural sector of the Ukrainian economy and help to restore the industry.

Formation of a Comprehensive Model of the Risk Management System of a Coal Mining Enterprise

In the conditions of market competition, the ability of companies to timely identify risks in the conduct of business activities and find adequate ways to eliminate them is one of the advantages and allows you to maintain a high position in any industry. This option is maintained under the condition that the risk management system is built based on the real needs of the business in maintaining a competitive position in the conditions of high uncertainty of the external and internal environment.The article reveals an approach based on the integrated model of the risk management system, provides a scheme and description of the integrated model, as well as methodologies used for assessing and ranking risks. The presented approach allows for comprehensive risk management at all levels, monitoring and timely implementation of risk management measures. The relevance of the presented approach is also due to the need to combine the requirements of different international standards for management systems in terms of risk management into a single consistent system.

Research on the Improvement of Risk Control Index System of Securities Companies

<p> With the deepening of the reform of the financial industry, regulatory agencies have not strictly controlled in accordance with the regulatory system. In the face of the ever-changing market environment and the continuous upgrading of the securities industry competition pattern, innovation and development ushered in new opportunities, but also brought some difficulties to the implementation of risk management measures in China. In addition, the development of new Internet economy features. Because the securities companies have not adapted to the new liquidity characteristics, they are insufficient to cope with the new liquidity risks. In addition, the financing channels of securities companies are single, without a good combination of financing channels, it is easy to bring greater risks. Secondly, the imperfection of internal control system and the lack of awareness of risk management and control of employees themselves also bring a lot of trouble to securities companies in risk management and control. To solve these problems, we should start from the root causes, improve the internal risk control, and at the same time, we need to work in the industry. The content of risk management is added in the threshold examination of personnel, and it is used as the assessment content in the subsequent assessment, which urges the staff to take risk control as their own responsibility.</p>

Risk management of teratogenic medicines: A systematic review.

To systematically identify studies of implementing risk management measures when prescribing teratogenic medicines for women of childbearing age and studies reporting risk perceptions of teratogenic medications. MEDLINE, CINAHL, Scopus, EMBASE, and International Pharmaceutical Abstracts were searched. Studies were included in the risk management section if they reported any of the following risk management measures: teratogenic counseling, contraceptive counseling, pregnancy testing before starting treatment, pregnancy testing during treatment, use of contraception before starting treatment, and use of contraception during treatment. Studies were included in the perceptions section if they reported perceived teratogenic risk as numerical value. Fifty-five studies were included in the risk management section and seven studies were included in the perceptions sections. Prevalence of risk management measures varied as follows: teratogenic counseling (9.5%-99.3%), contraceptive counseling (6.1%-98%), pregnancy testing before starting treatment (0%-95.1%), pregnancy testing during treatment (12.7%-100%), contraception use before starting treatment (15.7%-94%), and contraception use during treatment (1.7%-100%). A proper estimation of the teratogenic risk was reported for thalidomide (by general practitioners and obstetric/gynecologists), for etretinate (by pregnant women), and for misoprostol (by pregnant and nonpregnant women). An under-estimation was reported for warfarin and retinoids (by general practitioners and obstetric/gynecologists). And over-estimation was reported for thalidomide, valproate, lithium, isotretinoin, phenytoin, warfarin and etretinate by different populations. Considerable variation in the implementation of risk management measures when prescribing teratogenic medicines to women of childbearing age is reported in the literature. A common tendency to over-estimate the risk of teratogenic medications was evident.

The impact of risk management measures on the concentrations of per- and polyfluoroalkyl substances in source and treated drinking waters in Ontario, Canada

Risk management measures (RMMs) are a broad set of tools used in global treaties and national regulations to manage, ban or restrict the use of toxic chemicals. Per- and polyfluoroalkyl substances (PFAS) are a group of chemicals that are persistent, bioaccumulate, biomagnify and are inherently toxic to the environment and human health. For these reasons global RMMs have been imposed on the manufacture and use of select PFAS. To evaluate the occurrence and potential current risk of PFAS in the Ontario environment, PFAS were quantitatively measured in source waters pre- (2005–2007) and post- (2012–2016, 2018–2019) implementation of RMMs. Source water samples were collected pre- (n = 105), and post-RMMs (n = 326) from lake, river and groundwater and analyzed for up to 14 PFAS. Pre-RMMs, the most frequently detected PFAS in source water were perfluorooctanoic acid (PFOA; 83%) and perfluorooctane sulfonate (PFOS; 76%) followed by perfluorohexane sulfonate (PFHxS; 47%) and the maximum ∑PFAS10 was 42.1 ng/L. Post-RMMs, the maximum ∑PFAS10 (which includes PFOS) was statistically significantly reduced to 15.5 ng/L, well below the Federal Environmental Quality Guidelines for PFOS. To evaluate post-RMMs risk to human health, 226 drinking water samples were collected from 25 drinking water systems with conventional and advanced treatment. All individual (or ∑PFAS) concentrations are well below current and proposed Health advisory levels or regulatory guidelines/standards for PFAS in drinking water with calculated Risk Quotients (RQ) <0.02. This survey indicates that the implementation of RMMs for select PFAS have made a significant difference to the concentrations detected in source waters in Ontario, Canada.

Risk management system in the enterprises of agrarian sphere

The article deals with risk management systems at enterprises of the agrarian sector, which represents an organization of economic activity, the purpose of which is to minimize losses and find sources of income. The research organization of the risk management system in the enterprises of agrarian sphere great attention should be paid to the integration of their specific activities. The process of risk management in enterprises consists of the following phases: definition of objectives and parameters for solving the problem of risk; identification of external and internal risk factors; identification of risk factors, risk identification; risk analysis; risk assessment; development and implementation of risk management measures; synthesis of the results of measures taken and preparing proposals. In addition, the risk management system is submitted to us through the introduction of a passport of risk, to enable the formulation and adjustment of economic activity at any stage of its implementation. Under the risk passport of the economic risk refers to a collection of information about risk, risk criteria, as well as guidance on the application of the necessary methods to manage or mitigate the risks. As well as the information in the article was considered in the context of a risk management system.

THE DEVELOPMENT OF THE RISK MANAGEMENT MECHANISM FOR INNOVATION PROJECT

It is established that the high probability of emergence of risk situations in the innovation project, requires the implementation of risk management measures. It is noted that there is currently no mechanism for distributing of financial risks between the customer and the executor of the innovation project, that is largely negatively reflected in the desire to invest own funds in innovation. The methodological bases of risk management of innovative activity of the project-oriented organization are offered in the article. With the proposed approach, it is possible to estimate in advance how much the proposed risk management measures can reduce the risk of an innovation project and how this activity will affect on the project's effectiveness in deciding whether to continue or stop the innovation project research. On the basis of the existing characteristics of the risk measures of the innovation project, it can be concluded that the best indicator of the effectiveness of a certain stage of the innovation project by the results of simulation is net present value of the project. It is better to use the probability of receiving an ineffective result of an innovation project at an appropriate stage for assessing of the risk of the innovation project and the decision to continue or stop the innovation project at a certain stage.

HOSPITAL DISASTER RISK MANAGEMENT: THE CASE OF URMIA HOSPITALS

Objective: This study has been conducted with the aim of assessing the risk management category and its status in hospital from the perspective of senior managers in Urmia hospitals considering the existing scientific gap and the importance of the issue for the health system and society.Methods: This cross-sectional research was conducted in all 12 hospitals in Urmia. Participants in the research included 37 senior hospital managers. Data gathering instrument was a researcher-made questionnaire with Likert scale. Content validity and reliability of the tool (Cronbach’s alpha coefficient) have been also measured in a similar study. This tool has been designed in two parts: Demographic specifications and items (44 questions). Kolmogorov-Smirnov, ANOVA one-way, independent t-test, and Spearman tests were used in SPSS 20 software for statistical analysis.Results: The average of total score of all risk management components was equal to 3.0445, which is in moderate level. According to ANOVA one-way test, there was no significant relationship between the organizational status of managers and their education level with any of the risk management components. Furthermore, it was specified using independent t-test, there is no statistically significant relationship between gender and risk management components. It was specified using Pearson correlation test; there is a statistically significant relationship between gender and education level as well as individual’s organizational status (p-value: 0.001).Conclusion: Studied hospitals have suffered from the lack of risk management. There is not enough knowledge in this regard among senior hospital managers, and therefore, due to the importance of this issue, needed policies and programs should be provided to all hospital managers and needed supporting and education should be provided in regard to the implementation of risk management measures.

Insurance Agency Contract with No Claim Bonuss

Traditionally insurance agents are incentivised by payment of a commission on the premium they generate. A bonus payment received by the agent from the insurer, when the insured does not make a claim, is referred to as ‘No claim bonus’ (NCB). NCB rewards the agent for her / his effort in reducing the probability of a loss caused by the insured peril. In case of general (non-life) insurance products, a trained agent can educate the insured about their risk exposure, and about taking risk management measures, to reduce the probability of loss. This effort of the agent reduces the probability of claim and is referred to as the ‘risk management’ (RM) effort. In presence of deductibles, the insured also benefits from reduced probability of loss. But if implementation of risk-management measures is sufficiently costly for the insured, the premium should be reduced to sell the policy. An incentive compatible contract, which induces the agent to choose RM effort, is designed in this paper. If the agent’s cost of RM effort is less than a critical value, there exists feasible ranges of values of the NCB and the insurance premium such that the insurer can offer an incentive compatible agency contract with NCB, and the agent can accept it. The feasible range of NCB shrinks if the insured’s cost of implementing risk-management measures crosses a threshold.

Does Concern‐Driven Risk Management Provide a Viable Alternative to QRA?

This article discusses a concept of concern-driven risk management, in which qualitative expert judgments about whether concerns warrant specified risk management interventions are used in preference to quantitative risk assessment (QRA) to guide risk management decisions. Where QRA emphasizes formal quantitative assessment of the probable consequences caused by the recommended actions, and comparison to the probable consequences of alternatives, including the status quo, concern-driven risk management instead emphasizes perceived urgency or severity of the situation motivating recommended interventions. In many instances, especially those involving applications of the precautionary principle, no formal quantification or comparison of probable consequences for alternative decisions is seen as being necessary (or, perhaps, possible or desirable) prior to implementation of risk management measures. Such concern-driven risk management has been recommended by critics of QRA in several areas of applied risk management. Based on case studies and psychological literature on the empirical performance of judgment-based approaches to decision making under risk and uncertainty, we conclude that, although concern-driven risk management has several important potential political and psychological advantages over QRA, it is not clear that it performs better than (or as well as) QRA in identifying risk management interventions that successfully protect human health or achieve other desired consequences. Therefore, those who advocate replacing QRA with concern-driven alternatives, such as expert judgment and consensus decision processes, should assess whether their recommended alternatives truly outperform QRA, by the criterion of producing preferred consequences, before rejecting the QRA paradigm for practical applications.