Risk Management

Question 1

A significantly different rate of selection in hiring, promotion, or other employment decisions that negatively and disproportionately impacts members of a specific race, gender, or ethnic group. It is unintentional discrimination, compared to disparate treatment, which is intentional.

Answer 1

Adverse impact (or disparate impact)

Question 2

Also known as the 4/5ths or 80 percent rule, this analysis is used to assess disparate impact in employment practices (e.g., hiring, promotions).

Answer 2

adverse impact analysis

Question 3

Find the number of units needed for zero loss or profit. (Formula: Break-even point = fixed costs / (price per unit –variable cost per unit; Format of result: # of units)

Answer 3

Break-even analysis

Question 4

Repeated, aggressive behaviors that intentionally cause harm to another person.

Answer 4

Bullying

Question 5

The negotiation of contracts between a representatives of workers and employers.

Answer 5

Collective bargaining

Question 6

A labor contract between a unionized group of employees and their employer.

Answer 6

Collective bargaining agreement (CBA)

Question 7

An organization’s potential exposure to material, financial, and other losses due to violations of laws, policies, and organizational processes.

Answer 7

Compliance risk

Question 8

Allows an organization to decide if the benefits a program or project brings outweighs the expenses or costs. (Formula: Benefits –costs; Format of result: dollar value)

Answer 8

Cost-benefit analysis

Question 9

The process of setting and implementing internal standards around the use, flow, accessibility, and management of data.

Answer 9

Data governance

Question 10

An employment decision, practice, or policy that intentionally disadvantages members of a protected class. Compared to adverse impact, which is unintentional discrimination, disparate treatment is intentional.

Answer 10

Disparate treatment

Question 11

Federal employment laws, case law, rules, guidelines, and enforcement agencies, as well as their implications for practice in human capital management such as:Minimum Wage and Overtime Pay -Fair Labor Standards ActWage Garnishment -Consumer Credit Protection ActChild Labor Protections (Nonagricultural Work) -Fair Labor Standards Act -Child Labor ProvisionsWorkers with Disabilities for the Work Being Performed -Fair Labor Standards Act -Section 14(c) Occupational Safety and Health Act(OSHA)§Health Benefits, Retirement Standards, and Workers’ CompensationEmployee Benefit Plans -Employee Retirement Income Security Act(ERISA)Continuation of Health Coverage –Consolidated Omnibus Budget Reconciliation Act (COBRA)Family and Medical Leave Act (FMLA)-Provides unpaid leave for up to 12 weeks for medical issues. The U.S. has no federally required paid time off.Patient Protection and Affordable Care Act (PPACA) §Other Workplace Standards*Lie Detector Tests -Employee Polygraph Protection Act§Work Authorization for non-U.S. citizens *General Information on Immigration, Including I-9 Forms -Immigration and Nationality Act oLaws Enforced by the Equal Employment Opportunity Commission§Title VII of the Civil Rights Act of 1964 (Title VII)§The Pregnancy Discrimination Act§The Equal Pay Act of 1963 (EPA)§The Age Discrimination in Employment Act of 1967 (ADEA)§Title I of the Americans with Disabilities Act of 1990 (ADA)§Sections 102 and 103 of the Civil Rights Act of 1991 §Sections 501 and 505 of the Rehabilitation Act of 1973 §The Genetic Information Nondiscrimination Act of 2008 (GINA) oLaws Impacting Education Organizations§Every Student Succeeds Act (ESSA)§Family Educational Rights and Privacy Law (FERPA) oLaws Impacting DataPrivacy§Fair Credit Reporting Act (FCRA)

Answer 11

Employment Law

Question 12

Body that oversees the federal laws that protect employees and job applicants against discrimination.

Answer 12

Equal Employment Opportunity Commission(EEOC)

Question 13

The following are four primary techniques for conducting this type of analysis: 1) total cost calculation; 2) cost-benefit analysis; 3) return on investment; and 4) break-even analysis.

Answer 13

Feasibility analysis

Question 14

Harmful, unwanted, or bullying behavior that is based on protected class status such as race or gender.

Answer 14

Harassment

Question 15

Negotiation strategy in which parties collaborate to develop mutually beneficial agreements. Also referred to as integrative bargaining and win-win bargaining.

Answer 15

Interest-based bargaining

Question 16

Brief, day-to-day “verbal, behavioral, or environmental indignities” (Sue et el. 2007) that are often directed toward minorities or marginalized groups.

Answer 16

Microaggressions

Question 17

Quasi-judicial body established by the National Labor Relations Act.

Answer 17

National Labor Relations Board (NLRB)

Question 18

The deliberative process two or more parties entering into an agreement or seeking a solution or resolution to an issue or situation.

Answer 18

Negotiation (or bargaining)

Question 19

Place incidents on a matrix based on level of impact (e.g., moderate, minor, none) and likelihood of occurrence (likely, possible, unlikely). This then allows the organization to assign an overall risk rating and (e.g., high, medium, low), and manage each risk in the appropriate way.

Answer 19

Overall risk

Question 20

Negotiation strategy that involves holding to a fixed idea or position.

Answer 20

Position bargaining

Question 21

Risk analysis approaches that involve intangible assessments. Methods include consulting with subject-matter experts and using a risk matrix.

Answer 21

Qualitative risk assessment

Question 22

Involves using math and data to understand risk. Common types include feasibility analysis and analyses for ensuring legal compliance (e.g., adverse impact analysis).

Answer 22

Quantitative risk assessment

Question 23

Identify potential risks/threats to the organization and prioritize them based on their impact and likelihood of occurrence.

Answer 23

Relative risk

Question 24

Calculates the benefits/earnings from the investment as a percentage or ratio of the original amount invested. (Formula: ROI = (benefits or earnings received from investment –investment costs) / investment costs; Format of result: percent or ratio)

Answer 24

Return on investment (ROI)

Question 25

The process of identifying potential hazards and issues that could harm or stop a project, plan, process, person, or organization. It can involve quantitative or qualitative methods.

Answer 25

Risk assessment (or risk analysis)

Question 26

A tool for prioritizing risk in which risks are measured on a scale of their likelihood of occurrence and the severity.

Answer 26

Risk matrix

Question 27

The process of implementing strategies to address risk. Strategies include avoidance, acceptance, reduction, and transfer.

Answer 27

Risk mitigation

Question 28

The process of keeping a continuous pulse on risk and the results of selected risk management strategies.

Answer 28

Risk monitoring

Question 29

Assesses whether adequate resources are available to implement a new program or scale up an existing program. (Formula: Total costs = Total fixed costs + Total variable costs; Format of result: dollar value)

Answer 29

Total cost calculation

Question 30

strategic, financial, operational, compliance, and environmental risks.

Answer 30

Types of risk