Faculty of risk management
The Faculty of Risk Management is an academic unit or department within a business school or higher education institution that focuses on the study and research of various risks that businesses, organizations, and individuals may face in today's world. This faculty offers specialized programs aimed at developing expertise in identifying, assessing, and managing risks, as well as creating strategies to mitigate those risks. The field of risk management is crucial in today's complex and fast-paced global environment, where organizations constantly deal with financial, operational, strategic, and regulatory uncertainties.
This Faculty is a dynamic and essential field that prepares students to navigate the complexities of modern business environments. With its focus on identifying, assessing, and mitigating risks, this faculty offers students the tools and knowledge to become leaders in managing uncertainty across various industries. With a strong emphasis on both theoretical learning and practical application, graduates are well-equipped to handle the challenges posed by an ever-evolving global landscape.
Power of choice is untrammelled and when nothing prevents our being able to do what we like best, every pleasure is to be welcomed and every pain avoided. But in certain circumstances and owing to the claims of duty or the obligations of business it will frequently occur that pleasures have to be repudiated and annoyances accepted. The wise man therefore always holds in these matters to this principle of selection.
Background
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Risk Identification: Understanding different types of risks that can impact an organization. This includes financial risk, operational risk, strategic risk, environmental risk, and legal or regulatory risk.
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Risk Assessment and Evaluation: Techniques to measure and evaluate risks. This involves both qualitative and quantitative methods to determine the likelihood and impact of various risks.
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Risk Control and Mitigation: Strategies and tools to mitigate risks once they are identified. This includes developing and implementing policies, procedures, and strategies to reduce or eliminate risks.
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Crisis Management and Business Continuity: Preparing organizations for emergencies or disruptions, ensuring that operations can continue in the event of a crisis. This also includes disaster recovery and planning for unforeseen events.
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Insurance and Risk Financing: Exploring the role of insurance in risk management and understanding the financial tools and products used to transfer or finance risk.
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Legal and Regulatory Compliance: Studying the legal frameworks and regulations that affect risk management practices. This includes compliance with international standards, local laws, and industry regulations.
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Technology and Cyber Risk Management: With the increasing reliance on digital platforms, managing cyber risks and understanding emerging technology-driven risks is a growing part of the curriculum.
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Behavioral Risk and Risk Culture: Exploring how human behavior and decision-making can affect risk outcomes and the creation of a strong risk-aware culture within organizations.
Key Areas of Study
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GRC & ERM (Enterprise Risk Management). A COSO Framework Perspective.
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Navigating AI Revolution: Ethical Considerations, Risk Management and Operational Excellence.
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Vendor and Procurement Risk Management.
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Account Payables and Receivables Risk Management.
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Fraud, Waste and Abuse Prevention Risk Management.
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Store and Inventory Risk Management.
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Financial and Operational Fraud Risk Management.
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Leadership Risk Management.
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Mitigating Risks with Internal Controls.
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Social Media Risk Management.
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Physical Security Risk management.
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Financial Statement Risk Management.
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Human Resources Risk Management.
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Managing Internal Control Framework to Mitigate Business Risk.
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Manufacturing Industry Risk Management.
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Oil & Gas Industry Risk Management.
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Banking & Finance Industry Risk Management.
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AML (Anti Money Laundering) Risk Management.
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Insurance & Pension Fund Risk Management.
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Banking and Finance Fraud Risk Management.
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Aviation Industry Risk Management.