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Institute Of Operational Risk
The Institute of Operational Risk was established in January 2004 and in accordance with the requirements stipulated by the UK Secretary of State in regard to the formation of an Institute. It was formed as a professional body in response for a need to promote and maintain standards of professional competency in the discipline of operational risk management. Establishment This need had originally been identified and addressed through the pioneering work of the Operational Risk Research Forum (ORRF). Having established a high standard and reputation for operational risk management, training and education, ORRF sought permission from the UK Secretary of State to form The Institute of Operational Risk. With support from the British Bankers' Association (BBA), the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Cambridge University Judge Institute of Management, International Swaps and Derivatives Association (ISDA) and the Financial Services National Training Organisatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secretary Of State For Foreign And Commonwealth Affairs
The secretary of state for foreign, Commonwealth and development affairs, known as the foreign secretary, is a minister of the Crown of the Government of the United Kingdom and head of the Foreign, Commonwealth and Development Office. Seen as one of the most senior ministers in the government and a Great Office of State, the incumbent is a member of the Cabinet of the United Kingdom. The office holder works alongside the other Foreign Office ministers. The corresponding shadow minister is the Shadow Secretary of State for Foreign, Commonwealth and Development Affairs. The performance of the secretary of state is also scrutinised by the Foreign Affairs Select Committee. The current foreign secretary is James Cleverly MP, appointed in the September 2022 cabinet reshuffle. Responsibilities Corresponding to what is generally known as a foreign minister in many other countries, the foreign secretary's remit includes: * British relations with foreign countries and governm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute
An institute is an organisational body created for a certain purpose. They are often research organisations ( research institutes) created to do research on specific topics, or can also be a professional body. In some countries, institutes can be part of a university or other institutions of higher education, either as a group of departments or an autonomous educational institution without a traditional university status such as a "university institute" (see Institute of Technology). In some countries, such as South Korea and India, private schools are sometimes referred to as institutes, and in Spain, secondary schools are referred to as institutes. Historically, in some countries institutes were educational units imparting vocational training and often incorporating libraries, also known as mechanics' institutes. The word "institute" comes from a Latin word ''institutum'' meaning "facility" or "habit"; from ''instituere'' meaning "build", "create", "raise" or "educate". ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operational Risk Management
Operational risk management (ORM) is defined as a continual recurring process that includes risk assessment, risk decision making, and the implementation of risk controls, resulting in the acceptance, mitigation, or avoidance of risk. ORM is the oversight of operational risk, including the risk of loss resulting from inadequate or failed internal processes and systems; human factors; or external events. Unlike other type of risks (market risk, credit risk, etc.) operational risk had rarely been considered strategically significant by senior management. Four principles The U.S. Department of Defense summarizes the principles of ORM as follows: * Accept risk when benefits outweigh the cost. * Accept no unnecessary risk. * Anticipate and manage risk by planning. * Make risk decisions in the right time at the right level. Three levels ; In Depth: In depth risk management is used before a project is implemented, when there is plenty of time to plan and prepare. Examples of in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Bankers' Association
The British Bankers' Association (BBA) was a trade association for the UK banking and financial services sector. From 1 July 2017, it was merged into UK Finance. It represented members from a wide range of banking and financial services. The association lobbied for its members and gave its view on the legislative and regulatory system for banking in the UK. Role The BBA described itself as the leading trade association for the UK banking sector with more than 230 member banks headquartered in over 50 countries with operations in 180 jurisdictions worldwide. Structure The BBA was a trade association owned and governed by its members. BBA board The board was the governing body of the Association. It agreed major strategies and policies. Member segment advisory boards Member segment advisory boards provided a forum to inform the agenda of the BBA board and policy committees. There was a member segment advisory board for the major retail banks, challenger banks, small banks, maj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambridge Judge Business School
Cambridge Judge Business School is the business school of the University of Cambridge. The School is a provider of management education. It is named after Sir Paul Judge, a founding benefactor of the school. The School is considered to be particularly strong in entrepreneurship and innovation management, with its own accelerator and close ties with Cambridge Enterprise, the university's technology transfer office, as well as with the local high-tech cluster known as the Silicon Fen. The School is situated on the site of the Old Addenbrooke's Site on Trumpington Street, near the Fitzwilliam Museum. Administration and governance The School is a department of the university's School of Technology administrative group. History Founding and early years The School was established in 1990 as the Judge Institute for Management Studies. In 1991, donations from Sir Paul and Lady Judge, together with the Monument Trust, provided the funds for the construction of a building for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Swaps And Derivatives Association
International is an adjective (also used as a noun) meaning "between nations". International may also refer to: Music Albums * International (Kevin Michael album), ''International'' (Kevin Michael album), 2011 * International (New Order album), ''International'' (New Order album), 2002 * International (The Three Degrees album), ''International'' (The Three Degrees album), 1975 *''International'', 2018 album by L'Algérino Songs * The Internationale, the left-wing anthem * International (Chase & Status song), "International" (Chase & Status song), 2014 * "International", by Adventures in Stereo from ''Monomania'', 2000 * "International", by Brass Construction from ''Renegades'', 1984 * "International", by Thomas Leer from ''The Scale of Ten'', 1985 * "International", by Kevin Michael from International (Kevin Michael album), ''International'' (Kevin Michael album), 2011 * "International", by McGuinness Flint from ''McGuinness Flint'', 1970 * "International", by Orchestral Manoeuvre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Audit
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal auditing might achieve this goal by providing insight and recommendations based on analyses and assessments of data and business processes. With commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice. Professionals called internal auditors are employed by organizations to perform the internal auditing activity. The scope of internal auditing within an organization may be broad and may involve topics such as an organization's governance, risk management and management controls over: efficiency/effectiveness of operations (i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governance, Risk Management, And Compliance
Governance, risk management and compliance (GRC) is the term covering an organization's approach across these three practices: governance, risk management, and compliance. The first scholarly research on GRC was published in 2007 by Scott L. Mitchell, Founder and Chair of OCEG where GRC was formally defined as "the integrated collection of capabilities that enable an organization to reliably achieve objectives, address uncertainty and act with integrity." The research referred to common "keep the company on track" activities conducted in departments such as internal audit, compliance, risk, legal, finance, IT, HR as well as the lines of business, executive suite and the board itself. Overview Governance, risk management, and compliance are three related facets that aim to assure an organization reliably achieves objectives, addresses uncertainty and acts with integrity. Governance is the combination of processes established and executed by the directors (or the board of directors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organisations Based In Hertfordshire
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
