...for financial institutions and insurance companies. Parts of the glass Steagall act of 1933 GLBA allows financial institutions such as banks to act as insurance companies. GLBA covers both financial institutions and insurance companies since both can perform financial services for its customers. This reform requires banks and insurance companies to comply with both the privacy and safeguard rules of GLBA. 2. What is another name for obtaining information under false pretenses and what does it have to do with GLBA? What is an example of the safeguard pertinent to this requirement? Pre-texting or social engineering. GLBA specifically mentions this in title 15 US code chapter 94 sub chapter 2, section 6821. GLBA encourages companies to implement safeguards around pre-texting and social engineering. Security awareness training and periodic reminders of awareness to pre-texting and social engineering is a best practice performed within the user domain. 3. How does GLBA impact information system security and the need for information systems security practitioners and professionals? The safeguards rule within GLBA requires financial institutions and insurance companies to develop security plan detailing how they will protect their customers nonpublic personal information. The safeguards rule impacts the security plan throughout the 7 domains of a typical IT infrastructure in regards to protecting nonpublic personal information. 4. If your organization is a financial institution...
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...Strategic Issues and Problems In light of the economic condition that faced the nation in 2008-2009, Bank of America (BoA), and other financial institutions within the country, faced the problem of how to differentiate themselves, keep their existing customers, and, at the same time, attract new customers. The leadership of the organization identified mobile banking as a new field within the financial services industry to help provide faster, easier, and more convenient services to its customers. Mobile banking offers an opportunity for BoA to increase its operational efficiency and customer retention. The key challenge facing management is both tactical and strategic in nature. From a tactical perspective, management is faced with the problem of deciding which functionality of mobile application the Mobile Product Development Unit of the organization should firstly implement and which other business unit the organization should focus on. From a strategic viewpoint, management is faced with the problem of positioning itself within the industry. The financial services industry is fast-paced with tight competition. As such there is increased pressure on management to position itself in the long-run in order to be able to compete with other major players within the industry. Analysis and Evaluation The financial services industry serves as a vital component of the United States economy. The industry caters to commercial, private, and governmental needs. Historically, Bank of...
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...Chapter 1 Introduction Financial services firms are in the business of accepting risk. Primary aims of any financial services firm are collect and manage risks on behalf of their customers and make a profit for its shareholders. We may define ‘Risks’ as uncertainties resulting in adverse outcome, adverse in relation to planned objective or expectations. In the financial arena, enterprise risks can be broadly categorized as credit risk, operational risk, market risk and other risk. Credit risk is the oldest and important risk which banks exposure and important of credit risk and credit risk management are increasing with time because of some reasons like economic crises and stagnation, company bankruptcies, infraction of rules in company accounting and audits, growth of off-balance sheet derivatives, declining and volatile values of collateral, borrowing more easily of small firms, financial globalisation and BIS risk-based capital requirements. Credit risk can be defined as the risk of losses caused by the default of borrowers. Default occurs when a borrower can not meet his financial obligations. Credit risk can alternatively be defined as the risk that a borrower deteriorates in credit quality. This definition also includes the default of the borrower as the most extreme deterioration in credit quality. Credit risk is managed at both the transaction and portfolio levels. But, banks increasingly measure and manage the credit risk on a portfolio basis instead of on a loan-by-loan...
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...Satisfaction is an external Influence that impacts every medical Institution. It allows for Institution to gain knowledge and awareness in real time from patient evaluations. These surveys are publically reported for future patient knowledge. Health Care Administrators have a very significant role in understanding their patient’s point of view. Patient Satisfaction is a goal for every Administrator to obtain for future growth and development in the institution they manage. Maintenance Patient Satisfaction an External Influence Patient Satisfaction is a key component and important in every health care environment. No, the patient is not always right. However, satisfying your patient is essential. Medical institutions provide a service, and this is not just any service. These are services that patients pay for and demand a certain level of care to be rendered. Some patients pay out of pocket or thorough a form of insurance: HMO, PPO, MCO, Medicare, Medicaid, CHIP, etc… (Shi and Singh, 2012). No matter the form of payment an Administrators goal and responsibility is to assure that patients are satisfied from every aspect and level of care delivered. Nancy Stanley, Nurse Manager of the John Hopkins Hospital (JHH), Medical Surgical Pediatrics unit allowed for me to interview her and asked questions as it pertain to specifically her unit and Patient Satisfaction surveys: Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) and Press...
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...including financial services to implement “green” initiatives. While green banking is not yet a key reason for most customers to select one financial institution over another, customer demands and greater environmental awareness are driving a number of financial institutions to go green. Environment is a key focus amongst ethical banks (in this field specially called sustainability or green banks) as well as amongst many conventional banks that wish to appear more ethically oriented or that see switching to more environmental practices to be to their advantage. In general bankers “consider themselves to be in a relatively environmentally friendly industry (in terms of emissions and pollution). However, given their potential exposure to risk, they have been surprisingly slow to examine the environmental performance of their clients. A stated reason for this is that such an examination would ‘require interference’ with a client’s activities. While the desire to not meddle in the business of the client is valid, one could also note that banks are required to interfere in the business of their clients regularly to ensure that the clients’ business plan is viable before issuing them a loan. The kind of analysis that all banks partake in is termed a single bottom line analysis (this analysis only considers financial performance). It is arguable whether or not performing a triple bottom line analysis (an analysis that takes into account environmental, social, and financial performance)...
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...DISSERTATION PROPOSAL Introduction Business organizations both financial and non-financial institution adopting information technology at astonishing rate in delivering good service as the end state to satisfying their customer. Dependence and interdependence of this organization on information technology have increased this as well increase the consequence of IT risks. IT has become more and more central to business over the past decade but many enterprise organizations have not yet modify their processes for making key decisions related to IT and IT risks. Literature The research tailored to analysis IT risk management approach and the business impact. Including the integration of enterprise risks management in the organization. This is totally different from traditional risk management. The integrations refer to modifying the IT-operations approach, adjusting its capital structure and focus on engaging the right financial instruments. There are key areas enterprise risk management integration will address. The first is that, it integrates and coordinates all the various risks type across the entire organization. Thereby, risk management cannot be managed in silo rather all the risk that occurred in the entire ICT environment must be managed and approach in an enterprise way. Second, using enterprise risk management makes it possible for users to easily identify any potential incident that may affect the organization. Moreover, this makes decision taken to curb...
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...MANAGING CORE RISKS OF FINANCIAL INSTITUTIONS GUIDANCE NOTES ON PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING 16 September, 2012 Bangladesh Financial Intelligence Unit BANGLADESH BANK FOCUS GROUP Coordinator Mr. Md. Eskander Miah Deputy General Manager Bangladesh Financial Intelligence Unit Bangladesh Bank Member Mr. Rafiqul Islam Joint Director Bangladesh Financial Intelligence Unit Bangladesh Bank Mr. Kamal Hossain Deputy Director Bangladesh Financial Intelligence Unit Bangladesh Bank Mr. Md. Iqbal Hossain Deputy Director Department of Financial Institutions and Markets Bangladesh Bank Mr. Md. Ferdous Zaman Sardar Assistant Director Bangladesh Financial Intelligence Unit Bangladesh Bank Preface In response to the growing concern about money laundering and terrorist activities, the international community has acted on many fronts. The United Nations (UN) was the first international organization to undertake significant actions to fight against money laundering through adopting several conventions and resolutions. Following UN action, the Financial Action Task Force on Money Laundering (FATF) was formed by G-7 countries in 1989 as the first intergovernmental body which has recommended forty recommendations to combat money laundering in 1990. In October 2001, the FATF expanded its mandate to deal with the funding of terrorist acts and terrorist organization, and it took the important step of creating the Eight (later expanded to Nine) Special Recommendations on...
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...Compliance Act (FATCA). In our first brochure “Mastering the challenges of the new US regulations”, we presented the fundamental considerations which were necessary following the introduction of the FATCA regulations. We also explained how FATCA works, and how participating foreign financial institutions (“participating FFIs”) will be affected as from 2013. Because the text of the HIRE Act functions within the meaning of a framework legislation and the specific guidance are still to be drawn up that there is considerable uncertainty among financial intermediaries. The focus is particularly on the question of whether or not a financial service provider consitutes an FFI as defined under the FATCA regulations and must make appropriate analysis. On the other hand, there are the issues of identifying customer and US accounts and the treatment of withholdable payments. Finally, there also appears to be widespread uncertainty concerning the question of what – if any – alternative strategic options an FFI has. The US Internal Revenue Service (IRS) shed some light on this issue by releasing Revenue Notice 2010–60. This notice deals in particular detail with the issues concerning the identification of customers and US accounts as well as the definition of the term FFI and measures which must be taken by participating FFIs. By publishing this second brochure on the issues surrounding the FATCA, we would like to provide an overview of the most important content of the regulations stipulated...
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...1.0 Introduction Risk is the element of uncertainty or possibility of loss that prevail in any business transaction in any place, in any mode and at any time. In the financial arena, enterprise risks can be broadly categorized as Credit Risk, Operational Risk, Market Risk and Other Risk. Credit risk is the possibility that a borrower or counter party will fail to meet agreed obligations. Thus managing credit risk for efficient management of a Financial Institution has gradually become the most crucial task. Credit risk management needs to be a robust process that enables Financial Institution s to proactively manage facility portfolios in order to minimize losses and earn an acceptable level of return for shareholders. Credit risk is most simply defined as the potential that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms. The goal of credit risk management is to maximize a bank's risk-adjusted rate of return by maintaining credit risk exposure within acceptable parameters. Banks need to manage the credit risk inherent in the entire portfolio as well as the risk in individual credits or transactions. Banks should also consider the relationships between credit risk and other risks. The effective management of credit risk is a critical component of a comprehensive approach to risk management and essential to the long-term success of any banking organization. Prime Bank primarily lends for trade finance although some amount of project...
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...Internship Report on Functions oF credit risk management in non Banking Financial institutions (nBFi) in Bangladesh A study on IDLC Finance Limited Internship Report on Functions oF credit risk management in non Banking Financial institutions (nBFi) in Bangladesh A study on IDLC Finance Limited Submitted to: Sharmin Shabnam Rahman Dewan Mostafizur Rahman Internship supervisor of the submitter BRAC Business School (BBS) BRAC University Submitted By: Chowdhury Tasmiah Jabeen ID-06104024 BRAC Business School (BBS) BRAC University Date of Submission: 23rd December 2009 Letter of Transmittal_______________________ 23rd December 2009 Sharmin Shabnam Rahman BRAC Business School (BBS) BRAC University Subject: Submission of Internship Report of BBA Programme Dear Madam, It is my great pleasure to submit the internship report on "Functions of Credit Risk management in Non Banking Financial Institutions (NBFI) in Bangladesh, A study on IDLC Finance Ltd " which is a part of BBA Programme to you for your consideration. I made sincere efforts to study related materials, documents, observe operations performed in IDLC Finance Limited and examine relevant records for preparation of the report. Within the time limit, I have tried my best to compile the pertinent information as comprehensively as possible and if you need any further information, I will be glad to assist you. Thanking you, Chowdhury Tasmiah Jabeen ID-06104024 BRAC...
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...Australian School of Business School of Banking and Finance FINS5530 FINANCIAL INSTITUTION MANAGEMENT COURSE OUTLINE SEMESTER 2, 2009 TABLE OF CONTENTS 1. STAFF CONTACT DETAILS 2. COURSE DETAILS 2.1 Teaching Times and Locations 2.2 Units of Credit 2.3 Summary of Course 2.4 Course Aims and Relationship to Other Courses 2.5 Student Learning Outcomes 3. LEARNING AND TEACHING ACTIVITIES 3.1 Approach to Learning and Teaching in the Course 3.2 Learning Activities and Teaching Strategies 4. ASSESSMENT 4.1 Formal Requirements 4.2 Assessment Details 4.3 Assessment Format 4.4 Assignment Submission Procedure 4.5 Late Submission 5. ACADEMIC HONESTY AND PLAGIARISM 6. COURSE RESOURCES 7. COURSE EVALUATION AND DEVELOPMENT 8. STUDENT RESPONSIBILITIES AND CONDUCT 8.1 8.2 8.3 8.4 8.5 8.6 Workload Attendance Special Consideration and Supplementary Examinations General Conduct and Behaviour Occupational Health and Safety Keeping Informed 1 1 1 1 1 1 2 2 2 3 3 3 4 4 4 4 4 5 5 5 6 6 6 6 6 7 7 7 9. ADDITIONAL STUDENT RESOURCES AND SUPPORT 10. COURSE SCHEDULE 1. STAFF CONTACT DETAILS Jianfeng Shen (Lecturer in Charge, Lecturing weeks 7-12) Room: ASB337 Tel No: 9385 4581 Email: jianfeng.shen@unsw.edu.au Consultation: Monday: 1 – 2:30pm Vic Edwards Senior Lecturer in Charge (Lecturing weeks 1 – 6) Room: ASB354 Tel No.: 9385 5860 Email: v.edwards@unsw.edu.au Consultation: Tuesday: 3.00 pm to 4.30 pm Students with queries regarding course administration or lecture contents should: • •...
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...CHANDLER ALBURY CIVICS October 17, 2014 Civil service is the act of doing a job for your government. For example teachers are doing service and are called civil servants. MINISTRY OF FINANCE The Right Honorable Perry Christie is the Minister of Finance with the Honorable Michael Halkitis as the permanent secretary for the Ministry of Finance. The various branches in the Ministry of Finance are as follows: Business Financing * Small Business Guarantee of Loans * Tourism Development Loan Guarantee Imports and Exports * Customs Duty Exemption: Reduce Rate Duty - Raw Materials and Supplies Money, Duties, Taxes and Exemptions * Customs Duty Exemption for the importation of Commercial Printers * Customs Duty Exemption for the importation of Equipment and Machinery * Customs Duty Exemption for the importation of Material to be used in the renovation/maintenance of Historical Building * Customs Duty Exemption for the importation of Materials and Supplies Permits, Licences and Registration * Importation of Tabacco Products, Application for Registration Real Property * Real Property Tax Exemption Application for Tax Concession * Real Property, Assessment of Social Welfare Services * Emergency Relief Guarantee Programme Travel and Transportation * Customs Duty Exemption for the importation of a New Vehicle to be used within the transportation industry eServices * Real Property Tax, Payment...
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...RESOURCE MANAGEMENT TRIMESTER 3 PSB INDIVIDUAL PORTFOLIO Assessment 2 Individual Portfolio (30%) This portfolio comprises four assessment tasks. The tasks will need to be uploaded to the Assignments/Turnitin area of Blackboard and are due as outlined below*. Each task will be based around the following scenario and material may be drawn from the text, lectures and other reliable sources. Feel free to use creativity and invent any necessary detail. You do not need to reference individual tasks but may like to list the sources consulted. Each item should be no longer than two pages maximum. When naming your document that you wish to upload, please use the following convention: (use your name) Surname_Firstname_Task_Description eg. Brown_John_Task1_Task2 (Week 6) Chan_Iris_Task3_Task4 (Week 11) SCENARIO: You are a newly recruited Human Resources Officer at a large regional financial institution. The organisation is placing a great emphasis on service excellence and is promoting this in order to strengthen its service culture. You have been charged with the responsibility of recruiting a new management team of Team Leaders for the financial institution. The Team Leaders for the financial institution will be responsible for up to 50 employees (at each location). Team Leaders will be responsible for achieving budgets; acquiring and maintaining retail as well as business banking customers. Locations: China, Singapore; New Zealand; Hong Kong;...
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...Written Exam: 70 Internal Assessment: 30 Time: 3 Hours Project Economics and Management Paper Code: 3.1 Unit-1 Concepts of projects; project identification; formulation, analysis, risk, planning, design, report and appraisal; location of an enterprise; factory design and layout. Unit-II Understanding financial analysis; ratio analysis; fund flow analysis; breakeven analysis; social cost-benefit analysis; budgeting and planning process. Unit-III Sources of development finance; institutional finance to entrepreneurs; working capital management; incentives and subsidies; policies governing entrepreneurship; role of a consultancy organization. Unit-IV A review of project performance; post evaluation approach; community participation in projects; SWOT analysis; managing risk and exposure. Suggested Readings: 1. 2. 3. 4. Note: 1. 2. Four case studies will be discussed in a paper by the concerned teacher in the class. Instructions for External Examiner: The question paper will have two sections. Section ‘A’ shall comprise eight questions (two questions from each unit). The candidates will be required to attempt four questions (selecting one question from each unit). Section ‘B’ will contain one CASE STUDY which will be compulsory. All five questions will carry equal marks. Chandra, P., Project Planning Analysis, Selection, Implementation and Review, Tata McGraw Hill, New Delhi. Hedemey, J.W., Control and Management of Capital Projects, John Wiley, New York. Wysocki, R.K., R. Bick...
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...Every organization is different in the way that it communicates internally and with its vendors and customers and in the kinds of information that it sends over the Internet. Practicing strong computer security is a nonnegotiable requirement for organizations doing business today. However, building security into an existing corporate culture is a complex undertaking. Every organization has a security culture, and each is as unique as the organization itself. Security culture can be collaborative or argumentative, structured or unstructured. Security can be an integral part of a process beginning at the project-definition stage, or a separate process added on to an existing project. It can be ingrained or reactive. Information security is the protection of information from a wide range of threats in order to ensure business continuity, minimize business risk, and maximize return on investments and business opportunities. Security issues are unknowingly generated via employees using consumer electronics in their homes. As more consumer communications and devices enter the corporate enterprise security professionals need to consider the risks for business security. Things to consider included IM, gmail, iphones, un-secure home networks, etc. Employees are using these devices at home and in the workplace. . The first and most important strategy is to align information security with business strategy. The higher the value, the bigger the target, the greater the damage and overall...
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