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Bank Insure

Bank Insure

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Published by ClassOf1.com
Bank Insure is a financial institution offering banking, insurance and asset management to corporate and institutional clients. With a diverse workforce, Bank Insure comprises a broad spectrum of prominent companies that increasingly serve their clients under its brand.
Bank Insure is a financial institution offering banking, insurance and asset management to corporate and institutional clients. With a diverse workforce, Bank Insure comprises a broad spectrum of prominent companies that increasingly serve their clients under its brand.

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Categories:Types, School Work
Published by: ClassOf1.com on Jul 10, 2013
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07/10/2013

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OperationManagement 
LEARN TO EXCEL
Homework Help
24/7 Support
Step-by-Step Solutions
 
 
Sub: Operation Management Topic:
 
Financial Operations
*
The Homework solutions from Classof1 are intended to help students understand the approach to solving the problem and not forsubmitting the same in lieu of their academic submissions for grades.
http://classof1.com/homework-help/operations-management-
Bank Insure
Bank Insure
is a financial institution offering banking, insurance and asset management to corporateand institutional clients. With a diverse workforce, Bank Insure comprises a broad spectrum of prominent companies that increasingly serve their clients under its brand. Key to Bank Insure is itsdistribution philosophy 'click
call
face'. This is a flexible mix of internet, call centers, intermediariesand branches with which Bank Insure can fully deliver what today's clients expect: unlimited access,maximum convenience, immediate and accurate execution personal advice, tailor-made solutionsand competitive rates.
Bank Insures strategy
is to achieve stable growth while maintaining healthyprofitability. Bank Insurer
’s financial strength, its broad
range of products and services, the widediversity of its profit sources and the good spread of risks form the basis for Bank Insures continuityand growth potential. Bank insures shareholders, board, rating agencies, international and nationalregulators require that Bank Insure consistently and periodically identifies measures and monitors itskey operational risks that the business runs in achieving its objectives. The Risk Policy Committee of Bank Insure decided early in the year 2001 to set up the function
Group
 
Operational RiskManagement
(GORM). This function exists next to functions such as internal control, businesscontrol and
corporate audit services
(CAS). GORM predominantly aims to support generalmanagement with raising operational risk awareness and create early insight. Other important goalsof GORM are: increasing operational risk and loss transparency e.g. incident reporting, improving riskprocesses e.g. to identify and control operational risks, prepare Bank Insure for improving GORM.The recommendations made by GORM to the management committees and the business units aremainly based on information that is derived from e.g. facts on historical loss data, expert judgment,critical incidents and near misses.Before the actual expert judgment activities take place, there is an underlying motive for GORM toinitiate an inquiry. The documents that we studied and the interviews we conducted indicate that it
 
 
Sub: Operation Management Topic:
 
Financial Operations
*
The Homework solutions from Classof1 are intended to help students understand the approach to solving the problem and not forsubmitting the same in lieu of their academic submissions for grades.
http://classof1.com/homework-help/operations-management-
is important to have an understanding of these motives because it can influence: the facilitation, thegoal of the business process or organization under investigation, the selection of experts and therequired number of experts for providing the input to estimate a financial institutions exposure tooperational risk. The motives to initiate an inquiry can be classified in the following categories:Ongoing system and process audit. This audit is initiated by GORM and is an ongoing processassessment, which occur every four-year for less important business processes, and usuallyevery year for important business processes. It is important to note that a system and processaudit is time consuming and therefore usually takes place once every four-yearCompliance audits enforced by both internal and external rules and regulations. This activitytakes place on a yearly basis. It is important to note that mainly external rules dominate andthat a compliance audit only takes place where it has tosignals from the business units, because GORM holds office in the subsidiaries from BankInsure, they are able to pick up signals that might lead to the start of an audit

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