...Risk Memorandum to the Chief Information Security Officer of Anthe Inc. By Sravani Nandyala Submitted to Prof. Mr. Jason Black Northeastern University- College of Professional Studies March 15, 15 Memo To: Jason Black, Chief Information Security Manager From: Sravani Nandyala Date: March 14th, 2015 Subject: Acceptance Review Process Introduction I would like to propose the risk memorandum for the acceptance review process of Anthem Inc. which is an insurance corporation. Anthem is one of the second largest Insurance Company in United States of America. The goal of this formal acceptance review process is to setup the risk quality measures and risk tools wherein all the employees need to accept and follow the prescribed rules...
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...a process for turning polymers into high tensile strength plastic substrates. He patented these processes. In 1992 he purchased a manufacturing plant that made fans and started to get into the manufacturing business instead of just research and development. In 2000 the company started to venture out and expanded into China. This plan will outline an Alternative Dispute Resolution (ADR) for the company to use to keep them on track with their mission. Then discuss enterprise and product liability. Briefly discussed will be issues with international law and how those laws affect the expansion into China. The paper will cover tangible and intellectual property, legal forms of business as well as governess. The paper will also cover enterprise risk management as outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). It will conclude by wrapping up with a discussion on laws that Riordan must follow. Riordan Manufacturing, Inc. is a fortune 1000 enterprise owned by Riordan Industries. The company specializes in plastic injection molding used to create plastic designs. The corporate headquarters and research & development are located in San Jose, CA. The various manufacturing plants are located in Albany, GA, Pontiac, MI and Hangzhou, China. The major customers are automotive parts...
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...Health and Safety in the health and social workplace Name: OLUWOLE. F. OMITOYIN Introduction: This essay intends to demonstrate a clear understanding of health and safety legislation and its implementation in health and social care settings. A review of systems, policies and procedures for communicating information in relation to legislations and individual responsibilities in term of managing health and safety will be considered. While safety priorities and how they are being implemented will be looked into. The use of information from care plan; the importance of risk assessment, the impact of policies on health care practices and how dilemma situation are managed and in addition consequences of non-compliance with law and regulation will be discussed. Lastly, the essay will critically look at how health and safety arrangement are monitored and review and also analyse the effectiveness of positive health and safety culture in health care organisation. In conclusion, my own contribution to health and safety needs will be discussed and recommendation made. Task 1: 1.1 According to oxford English dictionary (2014) “Policy is defined as a course or principle of action adopted or proposed by an organisation to direct and limit its action in pursuit of a long term goals,” examples smoking policy, manual handling policy. While a procedure on the other hand is an established or official ways of doing things or a series of actions conducted in a certain order or manner...
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...Lab 2 - Align Risks, Threats, and Vulnerabilities to COBIT PO9 Risk Mgmt. Controls Part 1 4. Discuss the primary goal of the COBIT v4.1 framework. Provide a basic description of cobit. * The purpose of Control Objectives for Information and related Technology (COBIT) is to provide management and business process owners with an information technology (IT) governance model that helps in delivering value from IT and understanding and managing the risks associated with IT. COBIT helps bridge the gaps amongst business requirements, control needs and technical issues. It is a control model to meet the needs of IT governance and ensure the integrity of information and information systems. 5. Explain the major objective of the Control area (COBIT 4.1 Controls Collaboration link on the left side of the COBIT website) * “The COBIT Controls area within ISACA's Knowledge Center promotes collaboration and sharing of information, solutions and experience among COBIT users.” 6. From the COBIT Domains and Control Objectives section, list each of the types of control objectives and briefly describe them based on the descriptions on the website. * Plan and Organize – “This domain covers strategy and tactics, and concerns the identification of the way IT can best contribute to the achievement of the business objectives. The realization of the strategic vision needs to be planned, communicated and managed for different perspectives. A proper organization as well as technological...
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....................................................................8 COBIT..........................................................................................................................11 Responsibility for Internal Control System .................................................................13 Conclusion ...................................................................................................................14 3. TOP-DOWN, RISK-BASED APPROACH 3.1 3.2 3.3 3.4 3.5 Introduction ..................................................................................................................15 Risk Identification........................................................................................................17 Controls Identification .................................................................................................18 Execution and Evaluation ............................................................................................21 Roadmap for Implementation of a Top-Down, Risk Based...
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...SACHS.DOCX (DO NOT DELETE) 8/1/2011 2:07 PM RESCUING THE STRONG PRECAUTIONARY PRINCIPLE FROM ITS CRITICS Noah M. Sachs* The Strong Precautionary Principle, an approach to risk regulation that shifts the burden of proof on safety, can provide a valuable framework for preventing harm to human health and the environment. Cass Sunstein and other scholars, however, have consistently criticized the Principle, rejecting it as paralyzing, inflexible, and extreme. In this reassessment of the Strong Precautionary Principle, I highlight the significant benefits of the Principle for risk decision making, with the aim of rescuing the Principle from its dismissive critics. The Principle sends a clear message that firms must research the health and environmental risks of their products, before harm occurs. It does not call for the elimination of all risk, nor does it ignore tradeoffs, as Sunstein has alleged. Rather, through burden shifting, the Principle legitimately requires risk creators to research and justify the risks they impose on society. By exploring where the Principle already operates successfully in U.S. law—examples often overlooked by the critics—I highlight the Principle’s flexibility and utility in regulatory law. This Article uses chemical regulation as a case study in how the Principle can guide Congress in an ongoing controversy. Congress is considering a major overhaul of the flawed Toxic Substances Control Act of 1976 (TSCA), and this change could be one of the most significant...
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...Management Fall 2009 Non-financial risk assessment in mergers, acquisitions and investments Identifying sources of business risk in the ICT industry Bachelors thesis Erik Allenstr¨m, 1984-11-26 o Fredrik Njurell, 1984-01-30 ¨ Tutor: Osten Ohlsson January 14, 2010 Abstract The number of company mergers and acquisition activities has increased dramatically the last two decades. The reasons for conducting these activities are many and the uncertainties of their results are high. To reduce the uncertainties when making an investment, merger or acquisition it is vital to do a thorough assessment of the risks involved with the activity. This thesis focuses on a specific part of this risk assessment, namely the non-financial risks. Mergers and acquisitions are done in almost all industries around the world and the reasons for and benefits of these activities can vary between industries. We have chosen to investigate the risk assessment of non-financial risks in the Information and Communication Technology (ICT) industry. The thesis aims at investigating what business characteristics, for companies in the ICT industry, that give rise to non-financial risks that must be assessed when doing investments, mergers or acquisitions. Further on we present a risk pattern that points out what business characteristics that are the most important when conducting a risk assessment of non-financial risks on companies in the ICT industry. From a literature study we find evidence that ten different...
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...Running head: PURCHASING A HOUSE RISK PAPER Purchasing a House Risk Paper Keller Graduate School of Management Project Risk Management PROJ 595 Dr. Susan Orr August 04, 2013 Purchasing a House Risk Paper INTRODUCTION The many advantages to owning a home have been well publicized. However, the above satistics make it clear that owning a home is not without risk. To form a complete picture, you, the prospective buyer, need to consider the potential risks and disadvantages of home ownership as well. Understanding these disadvantages beforehand will give you a better chance of minimizing their impact and avoiding the fate suffered by these homeowners. RISKS IDENTIFICATION There are many risks in buying a new house such as: • The opportunity cost of investing in an alternative investment is very high because the entire cash and future income stream is tied up into one asset a home, which may or may not appreciate. • The house is an undiversified investment, so if the market tanks as it has, game over. • Knowing that we do not own our home, the bank does. • A lot of cost connected to home ownership, such as repairs and insurance and fees and potential hazards I have not considered. • If I lose my job, game over, this will put a lot of stress on me. • There is a chance that your new home will lose value. Luckily, in general, the longer you own your home, the less likely a loss becomes. Loss of value is typically a short-term problem, possibly due to the local...
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...Risk Management Overview February 21, 2011 FIN/415 Risk Management Overview Paper Risk management is a systematic process of managing the exposure of the organization to a variety of risks. This process has become increasingly important for the success of any organization in current competitive markets. The successful identification of threats and opportunities is crucial in risk management as it allows to create the processes and procedures allowing the company to maximize opportunities and minimize threats. Many organizations treat risk management seriously and create separate department responsible solely for risk management. Royal Caribbean Cruise Line incorporated risk management department into its structure. This step allowed this organization to improve the risk assessment procedures and introduce the necessary processes to minimize the impact of threats. The organizational risk relates to the organizational governance, operations, and information systems. The organizational risk management “provides assurance for reliable and accurate financial and operational information and reporting, effectiveness and efficiency of operations, and safeguarding of assets, as well as compliance with regulations, contracts, and the organization’s code of ethics” (Aghili, 2010, p. 23). Organizational risk management treats the relates to the organization as one entity and...
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...management take quick and appropriate action as soon as there are any signs that a problem may exist? Management fosters and encourages an agency culture that emphasizes the importance of integrity and ethical values. This may be achieved through oral communications in meetings, via one-on-one discussions, and by example in day-to-day activities? Are there formal job descriptions or other means of identifying and defining specific tasks required for job positions established and up-to-date? Phase II-Assessment Risk Assessment N/A YES NO Comments Does management provide a sound basis for setting realistic and achievable goals and does not pressure employees to meet unrealistic ones? Are formal unit-wide mission or value statements established and communicated throughout the organization? Are employees at all levels represented in establishing objectives? Are risk management program in place to monitor and help reduce exposures? Are measures in place to identify and react to technological changes in the functional requirements of the organization? Does management promote continuous improvement and solicit input and feedback on significant changes? Phase III-Testing Control Activities N/A YES NO Comments Are employees aware of what kind of behavior is...
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...large emphasis on financial risk assessments. The risk assessment process is needed to identify risks that need to be treated within an organization, as well as to provide strategies and methods that are most appropriate to treat these risks. Because many organizations are poorly aligned between their risk exposure and their risk appetite, it is important to engage in the risk assessment procedures. These procedures can help an organization prevent risk exposure and determine if their current operations will result in an increase or decrease of market value and owners’ wealth. As a result of the economic crisis, and the recent increase in corporate failures, organizations can now learn from the mistakes of others. This paper will discuss the mistakes that lead WorldCom, a telecom company that was once the fourth-ranked in Fortune 500, to bankruptcy in 2002, in an effort to demonstrate the importance of successful risk assessment and alignment implementation. Keywords: corporate failure, risk analysis, risk assessment, risk management, WorldCom Over the past years, and as a result of high profile firm failures, the economic crisis, and increased regulatory pressure, many organizations have placed a large emphasis on financial risk assessments. Risk assessment is the process where risk managers analyze the risks of an organization and identify risks that need to be treated (Tarantino & Cernauskas, 2011, p.47). In addition, a risk assessment provides strategies and...
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...A class website will be established and maintained throughout the course on Blackboard (go to http://www.unt.edu/ and click the link at the top for “Blackboard”). Course materials such as notes will be available on Blackboard. You are responsible for anything that I note through Blackboard emails and announcements. Course Description: Introduction to auditing and the professional responsibilities of a career in any specialty of the accounting profession. Topics include the legal and ethical responsibilities of accountants; professional auditing standards; the audit risk model; the acquisition, evaluation and documentation of audit evidence; reports on the results of the audit engagement. Learning Objectives: When you complete this course, you should: Understand the audit process, including audit procedures, and audit reports Understand the professional responsibilities of CPAs Understand audit risk assessments and planning Be able to research auditing standards Be able to identify fraud red flags Methods of Instruction: Lecture, discussion, and application. Course...
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...for a maximum benefit with the least amount of risk. Senior management must ensure that all risks have been taken into consideration along with the benefits to the CU and its members, and that the risks and returns are acceptable. Careful consideration must be given to the potential risks of these relationships and how best to manage them in specific regard to the amount of control given to the vendor vs. related risks in a given situation. The length of time ___FCU has worked with a vendor will directly influence the components and depth with which a relationships in which our expectations have been met. Critical Vendor The Board has defined a “Critical Vendor” as a vendor that provides a unique service of high importance to ___FCU that cannot be easily replaced in the event the vendor is no longer able to perform. Planning and Assessment ___FCU will use the Service Provider spreadsheet to document all risk assessments. Critical vendors: There must be planning and an initial risk assessment prior to entering into any new critical vendor relationship. Multiple vendors (at least 2) must be considered. Senior management should review all the information in detail before making its final choice. The initial review should take into consideration at a minimum as applicable, the following risks areas: credit, interest rate, liquidity, transaction, compliance, strategic, and reputation, with the main focus being the risk to membership...
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...Risk Management Assessment Survey Prairie Lakes Hospital serves the northeastern area of South Dakota. Prairie Lakes measure the progress made by accounting for all goals meet and adding additional goals for each care management initiative. This focus will improve the quality of health care provided to clients. At one time risk management meant the management of any potential claims from potential malpractice, workers’ compensation, casualty, and property losses. This basically includes protection and prevention of accidents in any organization (MHHS, 2011). Currently risk management must take on a more global definition that includes the enterprise of financial management (McGuire, 1995). Prairie Lakes Hospital has taken steps to prevent losses by predicting potential problems and creating an action plan and teams of individuals to track any changes in a given area. Risk managements purpose in health care is to protect patient safety, quality of services, staff and visitor protection, financial losses, risk detection and prevention (MHHS, 2011). Prevention of financial losses can be found done by evaluation of the hospitals finances on a regular basis. Overall risk management protects the organization’s assets and continually identifies and addresses the sources of all risks and losses of an organization. Risk management’s goal is to protect the assets of an organization and work to identify and fix all areas and sources of risk. In the case of Prairie Lakes Hospital...
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...AC572 You Decide Jan. 24, 2011 When evaluating this case using the three elements of the fraud triangle I have concluded that the potential pressures for Chris to commit fraud are greater than for others. The pressure is from Chris himself because he wants what others have or what he doesn’t have. This is due to the fact that Chris is young and impressionable may feel as though he doesn’t make enough money to obtain the material possession he desires or see others with. He may also be of the mindset that “he wants it now” it being the latest technology. This younger generation seems to feel entitlement instead of working and earn it. This may be due to their upbringing. Although my generation had things we worked for them and with our parents/families help we were able to obtain those things we wanted. We live in a technology savvy society so if you don’t have the last gadget then you may be looked upon as not having the means to acquire these things or not technologically savvy enough to want or have these items. Having the latest gadgets is a societal status symbol, the more you have…. the more you have meaning money. Chris may have friends that have the latest and greatest technology and he maybe envious of them and desire to acquire those things as well but not on his salary in his mind. So he must find a way to get either more money or a way to acquire the latest and the greatest in technology. The potential opportunities for Chris to commit fraud are great...
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