...can one hope to be ready. In the article CEO Gerald Smarten is faced with a subway bombing disaster that was unforeseen. He must make a huge decision for his corporation Kaspa Financial Services on whether or not to allow the companies front lobby to be turned into a triage center and the cafeteria a possible morgue. He has never had to deal with the magnitude of this situation and it was reported in the article that he had just attended training the prior month to discuss emergency response plans within the city of Boston. Coming from his financial background he knew about “market disasters” but is he really professionally able to make such a decision that will affect the outcome of so many people and their lives? Smarten and Kaspa financial did have an emergency financial response plan ready for implementation (McNulty, 2010, p. 2). The CEO knew the first order of business was to not panic and remain calm. He then had the calls and business for the financial institution transferred to their sister firms in other locations and regions to handle the day to day business. By implementing this plan it allowed for Kaspa to continue to try and maintain its commitment, obligations and responsibilities to the shareholders. Important documents and records would be transferred as well to help decrease any financial disasters and allow minimizing...
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...Banking System- Risk Management Central banks are the principal monetary authority of a country or a group of countries and are crucial to the functioning of all banks, financial markets, and the economy. “Central banks typically expose themselves to variety of risks including market, credit, interest rate and liquidity risk”. (PWC.com). Furthermore, central banks are exposed to significant reputational and operational risks as well as legal risks. Central banks necessitate the combination ofliquidity, safety and the enhancement of returns on invested funds, as the fundamental criteria for managing its reserves and financial risks. Hence, central banks usually implement a separate risk management department that monitors the central bank widerisks. In the Chinese banking system, China Bank Regulatory Commission (CBRC) is responsible for overseeing risk management of all the Chinese banks. The CBRC requires banks to take operative measures to address the weaknesses in their internal controls and improve their risk management and internal control practices.Due to the complicated and changing economic and market environments, both internationally and domestically, along with the emerging risks on various fronts, the CBRC strives to take responsive actions to facilitate sound and sustainable economic and financial developments in China. It endeavors to identify andmitigate risks in a forward-looking manner, by constantly improving the regulatory framework and supervisory conduct...
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...the 90s to investigate accusations of fraud and mismanagement and prepare reports outlining his findings starting with the Blaise Merchant Bank and Trust Co which spread to two similar but larger cases involving Century National Bank and its related financial entities and Eagle Merchant Bank. As an expert witness, Avey was hired by the Jamaican government to provide forensic investigation and audit support. He utilized specialized investigative skills in carrying out an inquiry conducted in such a manner that the outcome would be applicable to a court of law. In addition he examined evidence regarding assertions to determine its correspondence to established criteria carried out in a manner suitable to the court. Avey conducted his investigation grounded in sound forensic accounting principles where he quickly discovered self dealing in the Blaise Case where money was lent from one Blaise financial entity to companies controlled by its principal shareholders. In the Century Case, dishonesty was the main cause of the problems where the use of depositors’ funds to acquire such assets as real estate (which had also been the case with Blaise) for the potential personal gain of the individuals who controlled the financial institutions. In the Eagle case, once again depositor funds were misused, particularly in relation to the construction of a hotel originally intended as a 130-room-suite apartment complex. 2. Enumerate the likely techniques that Avey used to discover the connectivity...
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...construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking. Normally, the job is managed by a project manager, and supervised by a construction manager, design engineer, construction engineer or project architect. For the successful execution of a project, effective planning is essential. Involved with the design and execution of the infrastructure in question must consider the environmental impact of the job, the successful scheduling, budgeting, construction site safety, availability ofbuilding materials, logistics, inconvenience to the public caused by construction delays and bidding, etc. Types of construction projects In general, there are four types of construction: 1. Residential Building construction 2. Industrial construction 3. Commercial Building construction 4. Heavy Civil construction Each type of construction project requires a unique team to plan, design, construct and maintain the project. Building construction Building construction is the process of adding structure to real property. The vast majority of building construction jobs are small renovations, such as addition of a room, or renovation of a bathroom. Often, the owner of the property acts as laborer, paymaster, and design team for the entire project. However, all building construction projects include some elements in common – design, financial, estimating and legal considerations....
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...Therefore the plan must be updated and maintained as changes occur. It is intended that the plan be reviewed by senior management at least annually during the fourth qtr of the year. All team leaders are expected to keep staff personal information contained in the appendices of this plan confidential. All team leaders are expected keep a copy of the Disaster Recovery Plan readily assessable from home and a copy readily assessable at their office location at all times. Levels of Disasters There are three levels of disasters which require different actions. Level 1 – Short-term or temporary equipment outages. These outages can be caused by power or equipment failure and may last up to 24 hours. In the event of rolling black outs or other short term power outages Perfect -10’s normal priority of concerns will be in effect. The first step is the safety of all members and staff. Second we want to protect the assets of Perfect -10’s and finally we want to make everyone involved as comfortable as possible. The senior member of management at each location will ensure that the building is secure by locking the door. A staff member will be assigned to operate the locked door. Each transaction that is in process will be completed as much as possible and the member will be escorted out of the building. Level 2 – long-term equipment outages were the data center itself is still intact and functional. This level indicated that data processing function on existing equipment...
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...What is Vancity's competitive advantage over other types of financial institutions? Vancouver City Savings Credit Union usually known as Vancity is Canada's largest credit union providing financial service to customers who get rejected by other banks and financial institutions. Founded in 1946 and starting from just $350 in total assets, it has reached $17.1 billion in assets and has over 500,000 customers. According to Tamara Vrooman, CEO of Vancity "the key thing that differentiates us from a large bank, is local decision-making." It means Vancity believes in value-based banking, even though its compelled to achieve financial success it focuses heavily on environmental, social and community issues. Vancity strongly believes in keeping a healthy environment in the workplace to ensure productivity and financial success. It has a casual setting at work, employees dress casually and listen to music while they work and have team building activities like social events and sports. They are also flexible with employee schedules who have small children or other commitments along with a competitive pay, dental and life insurance plans, three to six weeks of annual...
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...The term “feasibility study” is used as a convenient description for the output for the work done, users of this toolkit should not apply preconceived notions of what a feasibility study consists of. Stated as simply as possible, the work done here must show that the project: ➢ is in accordance with predetermined needs; ➢ is the most suitable technical solution to the needs; ➢ can be implemented within any capacity constraints of the Institution which operates; ➢ has been subject to a due diligence that shows it is legally, physically and socially compliant; ➢ is fully costed over the whole life of the project; ➢ has taken due cognisance of the risks associated with its whole life cycle; and ➢ is affordable to the institution responsible for the project in the context of the available budget; The feasibility study guideline set out below is for a comprehensive document that, in many instances simply uses information already collected and set out as part of the steps carried out by the Institution. That said it is necessary to create a study that creates a holistic justification for the project and serves as a living document against which project deliverables are measured during procurement and even after implementation of the project. A feasibility study needs to be authentic and thorough. It is the basis for government making an important investment decision, not just a bureaucratic requirement. Regardless of the term and scale of a project...
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...Introduction: Banks are the most important financial intermediary in the economy as it connects surplus and deficit economic agents. They are vital institutions in any society as they significantly contribute to the development of an economy through facilitation of business. In the absence of banks; where would you go to borrow money? What would you do with your savings? Would you be able to borrow (save) as much as you need, when you need it, in a form that would be convenient for you? Because of the power of financial intermediation of the banks, these puzzles are resolved through the banking system hence they cease to be your problem but instead become the banks problem. As inevitably important aspect of the economy and the society, I have...
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...shariff@gmail.com Mobile: +91 9900519754 An Innovation in the aura of INDIAN banking sector ABSTRACT Innovation happens out of dire necessity Innovation is a continuous change management process which is often messy and chaotic, striving to succeed amidst the complex silos in financial institutions • Successful innovation is determined by a combination of factors The most successful financial institutions initiate a myriad of strategic and operational changes, involving processes and technology, workflows, changes in network distribution and service delivery to implement successful innovations. Financial institutions go through distinctive stages in innovation Depending on the maturity of the market; banks go first through product innovation, then progress to sales innovation and market share innovation and eventually focus on customer service innovation. Banking in india has become more innovative in the last two years 90% of the responding bankers said that their bank today is more innovative than two years ago at the time of the Lehman collapse. The crisis increased the level of innovation across the board although products and channels still remain the key focus of innovation activities. Despite the financial crisis banks continue to increase their investments in innovation 63% of the respondents on average...
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...KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY SCHOOL OF BUSINESS THE USE OF STRATEGIC HUMAN RESOURCE DEVELOPMENT AS A MEANS OF ACHIEVING CORPORATE OBJECTIVE IN THE MICROFINANCE SECTOR. (A CASE STUDY OF SOME SELECTED MICROFINANCE INSTITUTIONS) BY: ACKON BEATRICE APRAKU ESTHER ASABEA OPPONG-SEKUM KINGSLEY A DISSERTATION SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF BACHELOR OF SCIENCE BUSINESS ADMINISTRATION (HUMAN RESOURCE MANAGEMENT OPTION) MAY, 2015 DECLARATION We the undersigned, declare that this is the result of our own research work carried out in the School of Business, and under the supervision of Mr. Emmanuel Oheneba-Acquah ACKON BEATRICE 8535512 …………………………… …………………………… APRAKU ESTHER ASABEA 8548912 …………………………… …………………………… SEKUM-OPPONG KINGSLEY 8584412 …………………………… …………………………… CERTIFIED BY: EMMANUEL OHENEBA-ACQUAH……………………….. ……………………………. (SUPERVISOR) SIGNATURE DATE MR. J.E TURKSON ………………….. ……………………………. (HEAD OF DEPARTMENT) SIGNATURE DATE DEDICATION This study is dedicated to the Almighty God, we made this possible despite the many challenges faced and to our supervisor Mr. Emmanuel Oheneba-Acquah whose patience and intellect, guided us through this whole phase. We appreciate you! ACKNOWLEDGEMENT ...
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...Kiva.org,!walked!into!their!San!Francisco!office!to!greet!the!rest!their!ever" growing!team.!!Kiva.org!(Kiva),!the!world’s!first!person"to"person!micro"lending!website! had!seen!incredible!growth!over!the!past!year.!!Media!exposure!such!as!an!appearance! on!the!Oprah!Winfrey!Show!and!a!mention!in!Bill!Clinton’s!book,!Giving,!resulted!in!an! enormous!number!of!lenders!coming!to!the!Kiva!website!in!hopes!of!lending!money!to! entrepreneurs!in!the!developing!world.!!! ! In!2005,!Kiva!introduced!microfinance!to!the!internet,!and!since!then,!has!created!a! global!community!of!people!connected!through!lending.!!By!partnering!with! microfinance!institutions!in!over!30!countries,!Kiva!has!given!small!businesses!in! developing!countries!the!opportunity!to!grow!and!thrive.!!The!company’s!microfinance! partners!post!profiles!of!loan!applicants!on!the!website,!where!anyone!with!a!credit! card!and!an!internet!connection!in!United!States,!Canada,!Europe!and!beyond,!can! provide!small!loans!to!the!businesses!of!their!choice!(See!Exhibit!1!for!a!sample!profile).! ! As!of!that!November!morning,!Kiva!lenders!have!funded!over!$14.5!million!to!over! 22,000!entrepreneurs!through!65!microfinance!partners!in!37!countries.!!The!team!was! meeting!to!discuss!the!upcoming!board!meeting!and!the!strategy!for!Kiva!in!the!coming! year.!!Though!the!meeting!was!filled!with!satisfaction!and!pride!in!what!the!team!had! accomplished!since!their!inception,!major!decision!needed!to!be!made!and!debates...
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...WP/04/01 Bank of Uganda Working Paper Recognising the Role of Micro Finance Institutions in Uganda Justine Nannyonjo and James Nsubuga _________________________________ Bank of Uganda 2 WP/04/01 BOU Working PAPER Research Department Recognising the Role of Micro Finance Institutions in Uganda By Justine Nannyonjo and James Nsubuga February 2004 Abstract This paper shows that micro finance is an important part of the growth strategy in Uganda and has in the recent years gained increasing recognition. This is evidenced by initiatives and strong commitment by government, donors and practitioners towards supporting micro finance activities in Uganda, and the rapid expansion of the micro finance industry. Integration of Micro Finance Institutions (MFIs) into the formal financial system has been established, while measures have been taken to build capacity and enhance coordination in the micro finance industry, as well as expand the outreach of sustainable micro finance. The paper, however, identifies a number of challenges to the development of the micro finance industry: There is need to strengthen the capacity of MFIs to build their management information systems, and to rebuild infrastructure in underserved areas as well as strengthen capacity for identifying potential market structures, which could serve as the basis on which to build sustainable micro finance services. Other challenges include restoring peace in conflict areas and strengthening...
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...Cambodia faced almost three decades of civil war and political unrest which have made Cambodia one of the poorest countries in the world. From April, 19975 to January, 1979, it was a genocidal regime in Cambodia, about 2 million people were killed; the population was about 7 million people during that time. Cambodia was brought back to year zero because almost everything was destroyed. Vietnam invaded Cambodia in late 1978, and completely took control the country on January 07, 1979. Vietnam installed Cambodian government and made Cambodia a communist country in Cambodian history, and also installed Mr. Hun Sen as a prime minister of Cambodia. Corruption, poor public institutions, high military spending, poor legal and judicial system keep Cambodia one of the poorest countries in the world for decades. In 1993, Cambodia tried to end the civil war by uniting all conflicting political parties through the historically first free and fair election in Cambodia, which was prepared by the United Nations. Cambodia has deficit every year and survives by foreign aid and donations both financially and technically. In response to that, donating countries and international communities introduce good governance to Cambodia, which leads to administrational and institutional reforms. In this project, I am going to talk roughly about public administration reform, and more deeply about bank restructuring programs which play crucial rules in development of the economy of this poor country. After...
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...company provides comprehensive business solutions to private businesses, financial institutions, investors, bilateral and multilateral institutions. A special strength of Keystone lies in its ability to help prepare for and implement energy sector projects both with regards to conventional and nonconventional energy sources. Keystone is also particularly strong in the areas of financial modeling and conducting legal and technical due diligence. These strengths are applicable in a wide variety of fields and we are constantly branching out to new areas to expand our product offering. Keystone has a global network of expert consultants across major cities including Boston, Delhi, Dubai, Hong Kong, London, New York, San Francisco, Singapore, Sydney, and Washington DC. Keystone is continually expanding to other major cities as its business grows. OUR APPROACH Keystone’s Project Teams pair international experts with local talent to devise Global Best Practice Solutions tailored to the specific country context. This also allows us to offer a high international quality service locally. Our first and foremost goal is to craft concrete and actionable steps for our clients that deliver results. OUR STRENGTHS Expertise : Keystone draws its strength from its diverse team of international experts. The company has a select group of affiliate consultants and experts residing abroad who work on projects as required. The team is comprised of practitioners and academics from a variety of disciplines...
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...December 2012. I would like to serve in your prestigious organization for the suitable position in CDBL Settlement department. I am confident, highly motivated and energetic positive attitude in addition considerably diversified experience as will see from my resume and attached herewith a photograph for your kind perusal. Presently I am working “Mona Financial Consultancy & Securities Ltd.” as an Asst. Manager & Settlement In-Charge. My major responsibilities are all over CDBL Settlement Operation and inconsequential trading both DSE & CSE from 03 May, 2008 to till now. I am confident that this experience will be helping me to fit into this position. In view of the above, I hope you will give me the opportunity for an interview and at the same time question and answer any queries you may have. Sincerely Yours, ....................................... Md. Al Mujahidul Islam Enclosure: 1. A detailed resume 2. One copy passport size photograph. Resume of Md. Al Mujahidul Islam Cell: 01913-284048 E-mail: mujahidmona@gmail.com Mailing Address: Mona F.C.S Ltd. Suit # 417,DSE Building, 9/F Motijheel, Dhaka. [[[ Career Objective To work in a dynamic position which will provide me a good opportunity to utilize my strategic knowledge, skill and creativity that helps to attain corporate objectives. Possess a valuable blending of leadership, creative and analytical abilities that combine efficiency with imagination to produce high...
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