TITLE

Tough Times Call for Creative Risk Controls

AUTHOR(S)
Cofod, Bob
PUB. DATE
October 2005
SOURCE
Bank Technology News;Oct2005, Vol. 18 Issue 10, p54
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article focuses on the need for creative thinking in risk control in the financial service industry. According to management theorist Peter Drucker, organizational and market change is unavoidable but that implies that change should be postponed as long as possible. A change process brings several risks that are to be handled creatively. The author cites several examples of business risks, like that of Enron Corp., Global Crossing Ltd. and WorldCom Inc. Since banks have had to respond to many interrelated problems as they have occurred, there has been little opportunity to consider the potential for consolidation and develop a true enterprise concept for risk management. Financial managers, suggestively, need to look at overall problems and evolve a true understanding of risk management for the enterprise that considers all of the requirements.
ACCESSION #
19423329

 

Related Articles

  • The fear factor. Bolton, Lesley // Accountancy;Jan2003, Vol. 131 Issue 1313, p48 

    A year of disasters, from the events of September 11, 2001, to the financial scandals of Enron Corp. and WorldCom Inc., and most recently the outrages in Bali, Indonesia and Kenya, has thrown into sharp relief a host of risks that businesses face in their everyday operations. So great is the...

  • Brought to account. Hawkins, Nigel // Utility Week;8/2/2002, Vol. 18 Issue 7, p16 

    Discusses the accounting scandals involving WorldCom, Enron, Global Crossing and Qwest. Political aspects of the scandals; Impact of the scandals on financial markets and utilities; Reasons behind the accounting problems of the firms.

  • Managing board risk vital.  // Business Insurance;1/24/2005, Vol. 39 Issue 4, p8 

    This article reports that the recent dramatic settlements by former directors of WorldCom Inc. and Enron Corp. should set the stage for boardroom presentations throughout Corporate America. Boards need to hear the message behind those settlements: Not even the best directors and officers...

  • Q&A: Marc Mathieu, Senior vice-president of marketing, Unilever.  // Marketing Week (Online Edition);1/4/2012, p1 

    An interview with Unilever Group senior vice-president of marketing, Marc Mathieu, is presented. When asked how creativity is used at the company in the process of building a brand, he says that creativity should start with a strategy and must be visible from the start. He says that human...

  • A TIMELY RESOLUTIONS. Gumm, Danny // Professional Beauty;Jan/Feb2012, p202 

    The article offers the author's insights regarding the resolutions in order to make business more profitable in 2012. The author states the significance of utilising creativity and vision in relation to economic environment and success in business, particularly in the aesthetic industry. He also...

  • Viewing the Opportunity in Risk. Banham, Russ // Treasury & Risk Management;Dec2000/Jan2001, Vol. 11 Issue 1, p41 

    Focuses on the job responsibilities of the chief risk officer of Enron Corp. Elevation of risk considerations to the executive management level; Risk analysis and risk quantification tools; Operational risks.

  • Adapting to a CHANGED WORLD. Ehring, Dain // Mortgage Banking;Mar2009, Vol. 69 Issue 6, p54 

    The article discusses the effort to force the mortgage lending business to reconsider traditional approaches to products, processes, and technology in the U.S. This effort could lead to better access to information and greater industry creativity. It is stated that there are new ways of thinking...

  • Find lessons in Enron scandal.  // Business Insurance;4/1/2002, Vol. 36 Issue 13, p8 

    Editorial. Focuses on the risk management scandals between Enron Corp. and auditor Arthur Andersen. Failure on identifying uninsurable exposures; Problems of initiating reputational risk management; Business losses of the company.

  • Weathering Enron. Conley, John // Risk Management (00355593);Aug2002, Vol. 49 Issue 8, p18 

    Examines the business implications of the collapse of the U.S.-based energy company, Enron Corp. Factors contributing to the loss of Enron to the weather risk management market; Status of weather risk management; Overview of the weather risk transfer market; Definition of weather trading. ...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics