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The Global Risk Institute (GRI) is a Toronto-based organization focused on risk management for the financial services sector. [1] It provides members with "knowledge and tools" in the forms of events, publications, and education programs [ 2 ] aimed at actionable insights, and at capability building more generally. [ 1 ]
Algorithmics was a Toronto, Ontario based company founded by Ron Dembo that provided risk management software to financial institutions. Founded in 1989, Algorithmics employed over 850 people in 23 global offices, [1] and served more than 350 clients, including 25 of the 30 largest banks in the world, and over two thirds of the CRO Forum of leading insurers.
An occupational safety management system (OSMS) is a management system designed to manage occupational safety and health risks in the workplace.If the system contains elements of management of longer-term health impacts and occupational disease, it may be referred to as a occupational safety and health management system (OSHMS) or occupational health and safety management system (OHSMS).
Financial risk management is the practice of protecting economic value in a firm by managing exposure to financial risk - principally credit risk and market risk, with more specific variants as listed aside - as well as some aspects of operational risk.
Domain specific GRC vendors understand the cyclical connection between governance, risk and compliance within a particular area of governance. For example, within financial processing — that a risk will either relate to the absence of a control (need to update governance) and/or the lack of adherence to (or poor quality of) an existing control.
Some researchers have criticised control self-assessment as a flawed approach as the way risk is defined and measured is unsophisticated. In particular, control self-assessment may understate risk by not identifying extreme downside risk. An extreme downside risk is a highly improbable event that would have catastrophic consequences if it occurred.
The Workplace Safety and Health Act (WSHA) is the key legislation affecting the principles of the OSH framework. The WSHA emphasises the importance of managing Workplace Safety and Health (WSH) proactively, by requiring stakeholders to take reasonably practicable measures that ensure the safety and health of all individuals affected in the course of work.
Risk assurance is often associated with accounting practices and is a growing industry whereby internal processes are developed to create a "checks and balances" system. These checks predominantly identify differences between risk appetite and real risk [ 1 ] .Business risk refers to factors that can affect the company, both internally and ...