Tag: operational risk

The Seven Operational Risk Event Types Projected by Basel II

Mohammed Nasser Barakat

Partner at CAREWeb
(Mohammed Nasser) Barakat, is the BRS Service Line Leader for the ME region. Nasser has an MBA in Professional Accounting and a BS Degree in Banking and Finance.He is a Certified Public Accountant in Colorado State, USA, a Certified Control Self Assessment Practitioner and a Certified Fraud Examiner. Find me on

Bankers have reasons to fear operational risks hovering around their businesses. Any loss caused by inadequate or failed internal processes, people, systems, or by external events, can be classified under operational risks. Basel II has projected seven types of operational risks that banks and financial institutions should bring into focus: Internal fraud – Acts of…

The Seven Operational Risk Event Types Projected by Basel II was last modified: January 12th, 2015 by Mohammed Nasser Barakat



Reputational Risks Arising out of Social Media

Mohammed Nasser Barakat

Partner at CAREWeb
(Mohammed Nasser) Barakat, is the BRS Service Line Leader for the ME region. Nasser has an MBA in Professional Accounting and a BS Degree in Banking and Finance.He is a Certified Public Accountant in Colorado State, USA, a Certified Control Self Assessment Practitioner and a Certified Fraud Examiner. Find me on

The pros of using social media are many. Its cost effectiveness and extensive reach have encouraged most organizations (including many tech giants and MNCs) to prioritize the channel for their business strategies. The transition from “strictly no Facebook” to “social media friendly” was a rather quick one for many organizations. Social media helps to augment…

Reputational Risks Arising out of Social Media was last modified: January 7th, 2015 by Mohammed Nasser Barakat



How to Perform Operational Risk Assessments?

Fadi Al-khatib

Manager at CAREWeb
Fadi has BA degree in Accounting, and he is a Certified Operational Risk Executive. He has more than three years practical experience in the field of internal audit in one of the biggest banks in Jordan Before joining Grant Thornton in 2008 as a Senior Consultant, where he has conducted audit assignments in several companies, branches and business units.  Fadi has participated in the preparation and execution of many CRSA workshops and the implementation of Operational Risk Management systems for large clients in various industries.

Rating: Risks are inherent principles of business functions and processes. While we have control over some risks, others are just not in our hands. Operational risk is a risk classification on which we have power to a large extent. Assessing and evaluating operational risks is vital. Organizations should develop foolproof assessment programs, as understanding and…

How to Perform Operational Risk Assessments? was last modified: October 10th, 2014 by Fadi Al-khatib



Alan

Factors That Make Operational Risk Assessments Go Haywire

Mohammed Nasser Barakat

Partner at CAREWeb
(Mohammed Nasser) Barakat, is the BRS Service Line Leader for the ME region. Nasser has an MBA in Professional Accounting and a BS Degree in Banking and Finance.He is a Certified Public Accountant in Colorado State, USA, a Certified Control Self Assessment Practitioner and a Certified Fraud Examiner. Find me on

Rating:   Operational Risk Assessments can go haywire because of a number of reasons. And here are a few things you need to set right to eliminate the causes behind failed risk assessments: Building the right risk culture A standard risk language has to be created This common understanding and uniform language also facilitates smooth…

Factors That Make Operational Risk Assessments Go Haywire was last modified: November 3rd, 2014 by Mohammed Nasser Barakat



Five Tips to Sense Operational Risks in Your Organization

Five Tips to Sense Operational Risks in Your Organization

Mohammed Nasser Barakat

Partner at CAREWeb
(Mohammed Nasser) Barakat, is the BRS Service Line Leader for the ME region. Nasser has an MBA in Professional Accounting and a BS Degree in Banking and Finance.He is a Certified Public Accountant in Colorado State, USA, a Certified Control Self Assessment Practitioner and a Certified Fraud Examiner. Find me on

Alan, the company’s CEO is concerned about the risks of an upcoming new project. Alan has always been proactive with risk management and hence calls a meeting with his Risk Manager, Jack and Head of Operations, Sarah. Jack is a witty risk manager and he comes up with some techniques that could help Sarah deal…

Five Tips to Sense Operational Risks in Your Organization was last modified: November 3rd, 2014 by Mohammed Nasser Barakat



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Watch Out for Operational Risks in Your Business Grounds

Fadi Al-khatib

Manager at CAREWeb
Fadi has BA degree in Accounting, and he is a Certified Operational Risk Executive. He has more than three years practical experience in the field of internal audit in one of the biggest banks in Jordan Before joining Grant Thornton in 2008 as a Senior Consultant, where he has conducted audit assignments in several companies, branches and business units.  Fadi has participated in the preparation and execution of many CRSA workshops and the implementation of Operational Risk Management systems for large clients in various industries.

Managers often overlook operational risks, letting financial, strategic and compliance risks gain priority. They tend to escape the fact that operational risk management is significant and integrated with other risk zones. Let’s have a look at the following scenario to know how Alan, Jack and Sarah face a challenge in their company. Sarah is an…

Watch Out for Operational Risks in Your Business Grounds was last modified: October 10th, 2014 by Fadi Al-khatib



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