14.1 Trends and future developments for risk management

Question 1

C___ can occur in the workplace and leave an organisation facing financial and r_________ losses.

Answer 1

Crime

reputational

Question 2

Crimes can be committed by employees and non-employees such as third party v______, c_______ and cyber c___________.

Answer 2

vendors
customers
cyber criminals

Question 3

Continuous employee t________ and zero t_________ messages from the top can help to reduce the occurence of crimes

Answer 3

training

tolerance

Question 4

The prevention of f__________ crime is an important trend in risk management. Laws relating to the preventing of money l____________ and terrorist financing now extend beyond the financial services sector. Many organisations that support customer transactions or recieve.donate large amounts of cash must comply with these r_________.

Answer 4

financial
laundering
regulations

Question 5

In terms of identifying, a__________ and controlling financial crime risks, an organisation should determine how their operations may be used to launder money or support the financing of t___________. This will include identifying the products, services, s__________ (customers and third parties) and physical locations that are most at risk of money laundering and terrorist financing activities, then assessing the level of exposure in terms of probability and impact.

Answer 5

assessing
terrorism
stakeholders

Question 6

Where money laundering or terrorist financing is suspected, most r_________ regimes require that these susipicions are reported to the relevant authority. The relevant authority in the UK is the N________ C____ A_____ (NCA).

Answer 6

regulatory

National Crime Agency

Question 7

The UK B______ A___ 2020 established a liability for organisations whose employees commit an act of bribery of public officials or business to busienss briberry anywhere in the world. Organisations that have implemented adequate internal c________ prior to the occurance of an offence can sjhield themselves from corporate l_________.

Answer 7

Bribery Act
controls
liability

Question 8

Political risks refers to the risk an organisation may face as a result of political changes or a political i___________ in a country. Organisations manage political risk by defining the a________ to such risks within their strategic framework and proactive monitoring.

Answer 8

instability

appetite

Question 9

Corporate gift giving and h____________ should be limited to a minimum so they are not percieved as a bribe.

Answer 9

hospitality

Question 10

Behavioural risk management is focussed on managing the individual and collective behaviour of an organisation’s e___________. Behavioural risk management targets the attitudes, perceptions and relationships of an organisation’s employees to promote “good” b__________, which help the organisation to achieve its o__________, and prevent “bad” behaviours which can lead to risk.

Answer 10

employees
behaviours
objectives

Question 11

Behavioural risk can be managed using a range of common risk c________, including training, s_________ of duties, or w___________ arrangemets. Specific behavioural risk controls includ erecruitment controls, codes of conduct and risk culture.

Answer 11

controls
segregation
whistleblowing

Question 12

Climate change presents financial risks which can impact organisations through two main channels, the p_________ effects of climate change and the impact of changes associated with the transition to a lower-c______ economy. It is the expectation from certainr regulators that organisations will form a strategic response to the financial risks arising from climate change to ensure f_________ stability now and in the long term.

Answer 12

physical
carbon
financial

Question 13

An a___________ threat is a slow-resource attack that has large consequences. A cyber security attack launched by one person or a small group of individuals that causes a significant o__________ disruption for a target organisation is an example of such a threat.

Answer 13

assymetric

operational

Question 14

Over the past few decades, as more and more companies have become g__________, technologically agile and services-driven, intangible a______ have become more valuable than physical assets.

Answer 14

globalised

assets

Question 15

Shareholder a_________ is a new emerging risk for p__________ listed organisations.

Answer 15

activism

publicly