...Implementing risk transformation in financial institutions Governance and culture Risk transformation can enable a financial institution to elevate risk management from a functional capability to an enterprise responsibility that permeates the entire organization. When that happens, every business, function, and individual becomes responsible for, accountable for, and capable of recognizing and addressing the risks within their purview. Moreover, risk awareness and appropriate risk-related skills can become an integral component of every individual’s responsibilities at every level. In these ways, risk transformation can enhance the organization’s ability to implement business strategies and achieve goals while addressing risks and complying with evolving regulations. This document is one in a series of four on the cornerstones of risk transformation (see Figure 1): • Strategy • Governance and culture • Business and operating models • Data, analytics, and technology As explained in Aligning risk and the pursuit of shareholder value: Risk transformation in financial institutions,1 when these cornerstone frameworks and capabilities are in place, risk management, risk governance, and regulatory compliance can be implemented in a more aligned and integrated manner. Figure 1: The cornerstones of risk transformation What vision drives the Organization? Business Model Operating Model culture What oversight ensures the strategy is executed? ...
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...Getting the retained organization right: The other half of the shared services battle 2 Transforming the service delivery model for back-office functions such as finance, procurement, human resources (HR), real estate, and information technology (IT) continues to be a top priority for many companies. Such efforts usually aim to achieve several interrelated goals: to increase the function’s strategic contribution to the business, to improve operational efficiency and reduce cost, and to drive global data and process consistency. One widespread strategy for pursuing these goals is to establish a shared services organization (SSO) to execute back-office functional processes on behalf of multiple operating units. However, our experience shows that such efforts often fail to yield their intended benefits. Why? One important reason, in our view, is that many companies tend to focus almost exclusively on the processes to be moved into the SSO while paying little attention to the retained organization’s design and operation. We have seen many companies underestimate both the level of effort to get the retained organization “right” and the extent to which failure to do so may diminish the value of the shared services program. On the other hand, companies that do make the necessary investment in their retained organizations have a greater chance of reaping satisfactory returns on their shared services investment. Figure 1: Characteristics of the four types of functional activities...
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...Audit Intern, Winter 2013-Omaha Location: Omaha, Nebraska Firm Service: Audit Reference Code: S12OMAAI13JAN-AU Type of Position: Full-time Job Description Apply Online Deloitte & Touche LLP's ("Deloitte & Touche's") Audit and Enterprise Risk Services business has a risk-based approach, experienced professionals, comprehensive methodologies, and technical resources. Deloitte & Touche's services combine competency and experience in the areas of financial reporting, risk management, and compliance. The external audit services include: • Audits of Financial Statements, including reviews of quarterly financial information • Audits of internal control over financial reporting including Sarbanes-Oxley Section 404 • Agreed Upon Procedure • Other attest related services In conducting an external audit of clients' financial statements, Deloitte & Touche holds itself to the standards of independence, professional objectivity, and technical excellence. The audit approach is designed to provide the flexibility to serve the unique circumstances and complexities of clients. The Deloitte & Touche approach is to understand a client's business, the risks it faces, its internal controls, and assess the risk of material misstatement of the financials in order to design effective audit procedures. For public companies subject to the internal control reporting requirements of the Sarbanes-Oxley Act, Deloitte & Touche integrates the audit of internal control over financial reporting with...
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...The concept of Knowledge Management and its evolution The concept of Knowledge Management and its evolution The concept of Knowledge Management and its evolution The business environment of the twenty-first century is dominated by a powerful influence: the knowledge and information revolution. Knowledge is thought to be the only meaningful resource in this knowledge-based economy. The traditional factors of production have become secondary. In the current economy of increased global competition companies are using knowledge as a means to gain competitive advantage. Their ability to succeed largely depends on how well they can manage knowledge. Without a doubt, Knowledge Management (KM) has become increasingly important for all organizations. Knowledge Management is a concept and a term that arose approximately two decades ago, roughly in 1990. Quite simply one might say that it means organizing an organization’s information and knowledge holistically, but it is not the whole picture. Very early on in the KM movement, Davenport (1994) offered the still widely quoted definition: “Knowledge management is the process of capturing, distributing, and effectively using knowledge.” This definition has the virtue of being simple, stark, and to the point. A few years later, the Gartner Group created another second definition of KM, which is perhaps the most frequently cited one (Duhon, 1998): “Knowledge management is a discipline that promotes an integrated approach to identifying...
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...Third Party Risk Management: Job Description Intern-S15HEINTNG-IIMUDescriptionAbout Deloitte “Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu Limited (DTTL), a UK private company limited by guarantee. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTTL and each DTTL member firm is a separate and distinct legal entity. Each DTTL member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors and may secure the provision of professional services in their territories through subsidiaries, affiliates, and/or other entities. In the United States, Deloitte LLP is the member firm of DTTL. Services are primarily provided by the subsidiaries of Deloitte LLP, including:• Deloitte & Touche LLP• Deloitte Consulting LLP• Deloitte Financial Advisory Services LLP• Deloitte Tax LLP In India, Deloitte LLP has the following indirect subsidiaries: Deloitte & Touche Assurance & Enterprise Risk Services India Private Limited, Deloitte Consulting India Private Limited, Deloitte Financial Advisory Services India Private Limited, Deloitte Tax Services India...
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...HUMAN RESOURCE MANAGEMENT IN BUSINESS ORGANISATIONS Group 1 | HRM-A ARUNI SINGH (H15012) NAKUL SHARMA (H15035) NISHTHA KHANNA (H15038) PRATIK JAIN (H15041) YASH JAIN (H15059) ACKNOWLEDGEMENT We would like to take this opportunity to gratefully acknowledge the valuable assistance and contributions of the few people, without whom this project could not have been completed. At the outset, we would like to thank Professor M Srimannarayana for providing us with this learning opportunity and for being a constant source of insightful guidance for us in all matters related to the field of Human Resource Management, which we have just been exposed to. We would also like to thank the HR Professionals from various companies, with whom we interacted and were kind enough to spare time from their taxing schedules to fill u our surveys. These surveys have formed the backbone of our study. Thank you all! 1|Page Table of Contents ACKNOWLEDGEMENT .................................................................................................................... 1 INTRODUCTION................................................................................................................................. 3 ORGANISATIONS PROFILE ............................................................................................................ 4 HR STRUCTURE AND SIZE ........................................................................................................
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...Listening responses I have used with one of my patients Mrs Johns and also ways I overcame obstacles that affected communication between myself and Mrs Johns. Therapeutic Listening responses when caring for Mrs Johns Paraphrasing First we will look at three main types of Therapeutic Listening responses that are sometimes used in the field of nursing, the first response we look at it paraphrasing. Paraphrasing is taking what you have heard and repeating it in your own words, paraphrasing is important because it is a way of validating that you have understood accurately what was said and allows the patient to verify their statement (Lippincott Williams and Wilkins, 2008, p. 54). It is more to the point and shorter than the patients initial statement allowing you to focus on the main features of the first statement (Arnold and Boggs, 2011 p. 186). Times when you would use paraphrasing would be just after a patient has told you a statement about feelings or thoughts and you need to confirm what you are hearing is correct, it is important to paraphrase correctly so the patient dose not think you are trying to change what they have said or think you are putting words in their mouth. Below are two examples of paraphrasing with Mrs Johns. Example 1: Mrs Johns: “I am a little bit anxious today because my ulcer has been hurting for a little while now and I have had trouble walking around I hope it wont always be like this”. Me: “Mrs Johns what you are saying is that your in pain and feeling...
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...Autobiography of John P. Parker, Former Slave And Conductor on the Underground Railroad. When we think of the conductors of the Underground Railroad many think of Harriet Tubman and her only, but if we study history carefully we will find out that she is not the only conductor worth mentioning. John P. Parker has to be one of the most underappreciated figures not only in African American history but American history in general. If everyone was aware of this true American hero’s story, without question he would be a household name. The autobiography of John P. Parker is very well written and will have any reader on the edge of their seat throughout the entire book. The accounts of his experiences both as a slave and as a conductor of the Underground Railroad are extremely descriptive and would make any reader feel like they were right there with Mr. Parker feeling his pain, anger, pride, bravery, and even his humor. Although there are many themes that you can find in this book, we are going to focus on his bravery, cleverness, and freedom as the three themes to discuss. The first theme we are going to discuss is freedom. John Parker’s life includes many experiences that would influence his love and aspiration for freedom. At the young age of eight years old, he was sold and forced to walk from Norfolk, Virginia to Richmond, Virginia chained to an old man who would be whipped to death. “This experience set him on fire with hatred and desire to gain his freedom” (p.20). John Parker...
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...non-fiction, fiction, and drama are literature works. It describes tradition and cultures beginning centuries ago. “Saving Sourdi” was set in the United States of America. It takes place at the family operated restaurant. Literature affects people personally according to their current area of their life. It all depends on one’s ability to want to learn literature. We will always find a work of literature that shows values, morale, and attitudes of society. “The men had been growing louder, until they were our only customers, and, finally one of them staggered up and put his arm across Sourdi’s shoulders. He called her his “China doll” and his friends hooted at this”. (Chai, 2001, p.81-82) “He was just this funny looking white kid…Chopstick-boy I called him just to be mean”. (Chai, 2001, p.84) The “Birthmark” was told in third person. The wife’s unwanted birthmark on her face caused problems in their marriage. He wanted to remove her birthmark which caused her death. In “A Good Man Is Hard to Find” the grandmother hats symbolizes her demise in life. She held onto her hat the whole story even after death. The town of Toomsboro means day of doom due to the fact everybody died. The Misfits car described it was built like a hearse which symbolizes death. “Battle Royal” theme is when blacks were still being mistreated like slaves. The slaves had been freed but were treated badly because of their skin color. He just wanted a normal life so he kissed white folks behind to get...
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...(cited in Hamilton) he goes on to describe as; ‘the class of modern capitalists, owners of the means of social production and employers of wage labour’ (1991 p.57) have the power in society. The working class or what Marx refers to as ‘the proletariat’ which (cited in Hamilton) he goes on to describe as; ‘the class of modern wage labourers who having no means of production of their own, are reduced to selling labour power in order to live’ (1991 p.57) are controlled by this power which often leaves them vulnerable to the rich. Furthermore, the villains and villainesses appear to be used in order to demonstrate the ‘inequalities of the rich and the poor’ (Eagleton 1996 p.200). The wealth of the ‘bourgeois’ gives them access to many privileges and opportunities that the poor can never have access to. In the first novel Jane Eyre (Bronte 1847) Mrs Reed highlights the selfish nature of the wealthy. She speaks of Jane as ‘such a burden to be left on my hands’ (1992 p.203) because she has no wealth of her own. Mrs Reed sees her as one of ‘social inferiority’ (Nunokawa cited in David 2001 p.145) who is of no use to her. Jane does not like Mrs Reed and she explains ‘well might I dislike Mrs Reed for it was her nature to wound me cruelly’ (1992 p.27). Arguably, this shows how ‘power is crystallized and submission bred’ (Eagleton 1996 p.7) as those with wealth use their power to prey on those less fortunate than themselves. Upon learning that Jane Eyre has a prosperous relative who wants...
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...factor to buy. Marginal revenue product and marginal factor cost are relevant to this decision. Marginal Revenue Product The additional revenue generated by employing an additional factor unit, such as one more unit of labour. E.g. Firm employs one more unit of a factor and total revenue rises by $20, hence MRP of the factor equals $20. MRP can be calculated in two ways: MRP = △TR/ △Quantity of the factor Or MRP = MR x MPP Where TR = total revenue, MR = marginal revenue, and MPP = marginal physical product. The MRP Curve Is the Firm’s Factor Demand Curve MRP curve is downward sloping (Exhibit 2). Why? MRP can be calculated as MRP = MR x MPP and with regard to MPP, the marginal physical product of a factor, and, according to the law of diminishing marginal returns, eventually the MPP of a factor will diminish. Because MRP is equal to MR x MPP and because MPP will eventually decline, MRP will eventually decline too. Value Marginal Product VMP is equal to the price of the product multiplied by the MPP of the factor: VMP = P x MPP For example, if P = $10 and MPP = 9 units, then VMP = $90. VMP can be said to be a measure...
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...Abstract ABC Technologies is experiencing a financial crisis. John P Notepad, chief financial officer (CFO), has suddenly resigned and no one is discussing the reasons. ABC Technologies has received notification that the U.S. Securities and Exchange Commission (SEC) are investigating ABC Technologies’ company’s accounting practices and, from the documents they have requested, the issue seems to concern revenue recognition. Companywide and Industry wide rumors are circulating suggesting inappropriate behavior by ABC Technologies. ABC Technologies is a publicly traded company and, as such, my company is required to issue a public notice concerning the sudden vacancy of the CFO. As the staff CPA on the finance team drafting the notice, it is critical to properly communicate the current situation to the general public. • Item #1: a press release. • Item #2: an internal memo o Legal Requirements. o Public Communication Value. o Balance of calming stakeholders and ethical reporting to SEC. In conclusion, brief explanations of public perception from the press release. Resignation & Investigation Monday, December 16, 2011, Mark Chief, CEO of ABC Technologies enters my office and closes the door. It turns out that ABC Technologies is under investigation for inappropriate accounting practices, and unfortunately the CFO, John P Notepad, left without notice. ABC Technologies is in a damage control position, and needs to act fast. Below is an immediate press release...
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...Professor Laurence Mraz Kaplan University February 19, 2013 FACTS: Leroy McPhillen was a regular patron of The Bottom’s Up Pub, an intoxicated man named John, began shouting obscenities at a woman seated at a table near Mr. McPhillen. As the woman ignored the man’s ranting, the man approached the woman in a threatening manner. Before the man reached the woman, Mr. McPhillen invited the man to join him at his table. The man refused and grabbed the woman’s wrist. Mr. McPhillen then carefully twisted the man’s arm behind his back and restrained him with a neck hold. Mr. McPhillen refused the man’s request to release him, and firmly seated the man and threatened to punch him if he moved. The woman then informed Mr. McPhillen that the man was her husband. ISSUE: The questions presented are which intentional torts were committed, and what defenses are available to the tortfeasors? Both John and Leroy are guilty of committing intentional torts. Both parties have debatable defenses. Though the fact remains that more information is needed regarding the events that occurred prior to the assault and battery to the woman, and the time of how long the intoxicated man was confined. Before determining what are the applicable statues and what each parties defense may...
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...the argument are so strong. The advocates for active euthanasia argue that every human has the right to die if they are going to be in extreme pain or stress from an illness that comes with impending doom/death. The opposing argument is that human dignity has to be respected and that life is the greatest thing ever and that death is the ultimate evil. In this case of Mr. Collums and his brother (J.K.) with Alzheimer’s, the act of euthanasia is involuntary euthanasia. It is involuntary because J.K. was unable to care for any of his bodily needs, and could not speak or communicate with anyone. He was being fed applesauce through a tube basically. Since J.K. was in a state of vegetation, he was not capable of giving his brother the “A-Ok” to shoot him five times as fast as he could. Being a student of John Hardwig, James Rachel, and Peter Singer, I would argue in Mr. Collums’s side because the philosophers are in favor of dying quickly and painlessly rather than long and suffering. Although the philosophers have somewhat similar arguments, they each bring a unique way of looking at their position and defending it. John Hardwig is the head of the department of philosophy at the University of Tennessee, Knoxville. Hardwig’s argument is that there is so called “Duty to Die”. The duty to die goes beyond refusing treatment, also known as passive euthanasia. It also stretches so far that someone may have to end their life, even in the absence of chronic disease and if they would prefer...
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...There are several questions that will be addressed from the reading of John 15:1-8. The first question is what does this passage teach about salvation? Jesus is the true vine and the only source of eternal salvation. In one of our texts Mr. Morris states “When the Father purges the vine of the “unclean” Canes; He is ridding it of people whom God will prune”. (Morris, 2012, p. 137) Man is by his own nature dry and barren, but we draw power from God which is new, which does not proceed from ourselves. We are crafted in His image alone. (Christnotes.org, 2013) The second question is what this passage of John teaches about discipleship? These passages teach us that Jesus is the vine and His disciples are the branches. “The branches derive their life from the vine; the vine produces its fruit through the branches” (Carson, 2012, p. 514). In John 15:1, he states “I am the vine, and my Father is the vine grower” John 15:1 (The Wesley Study Bible). This parable elaborates that Jesus as God’s true vine depicts Him and these attached to Him as branches, which are God’s genuine people. The last question is what does the passage within John 15:1-8 teach us about eternal security? John 15:2 states, “He removes every branch in me that bears no fruit. Every branch that bears fruit He prunes to make it bear more fruit” (John 15:2). Fruitfulness is the mark of the true Christian. In John it also states eternal security is given by abiding in Jesus Christ and His word abides in...
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