Podcast
Questions and Answers
What type of risk is involved when an employee writes the wrong amount on a check?
What type of risk is involved when an employee writes the wrong amount on a check?
- Strategic risk
- Hazard risk
- Operational risk (correct)
- Financial risk
What is an example of a 'process' failure in the scenario described?
What is an example of a 'process' failure in the scenario described?
- Lack of employee training
- Inadequate payment process (correct)
- Insufficient staff authorization
- All of the above
What is another type of event that can cause operational risk?
What is another type of event that can cause operational risk?
- Power cut (correct)
- Change in management
- Employee termination
- Economic downturn
What is the primary benefit of allowing anonymous incident reporting in the risk identification process?
What is the primary benefit of allowing anonymous incident reporting in the risk identification process?
Why is it important to manage operational risks?
Why is it important to manage operational risks?
What is a potential way to mitigate the risk of writing the wrong amount on a check?
What is a potential way to mitigate the risk of writing the wrong amount on a check?
What is the main advantage of seeking employee feedback in the risk identification process?
What is the main advantage of seeking employee feedback in the risk identification process?
What is the main advantage of using models or software in the risk identification process?
What is the main advantage of using models or software in the risk identification process?
What is the primary benefit of seeking employee feedback in a group setting?
What is the primary benefit of seeking employee feedback in a group setting?
What is the primary purpose of analyzing customer complaints in the risk identification process?
What is the primary purpose of analyzing customer complaints in the risk identification process?
What type of risks can be identified through analyzing customer complaints?
What type of risks can be identified through analyzing customer complaints?
What is a key step in the risk management process when beginning to identify risks?
What is a key step in the risk management process when beginning to identify risks?
What is a benefit of asking insightful questions during the risk management process?
What is a benefit of asking insightful questions during the risk management process?
What is a method of identifying prospective risks in an organization?
What is a method of identifying prospective risks in an organization?
Which of the following is a category of risk that an organization may face?
Which of the following is a category of risk that an organization may face?
What is a purpose of flow charting a process in risk management?
What is a purpose of flow charting a process in risk management?
What is a key aspect of risk management in an organization?
What is a key aspect of risk management in an organization?
