Need 2 discussion responses written. 150 words each excluding any quotes. Pleas

by | Sep 18, 2022 | Other | 0 comments

Need 2 discussion responses written. 150 words each excluding any quotes. Please use Grammarly to make sure it flows and makes sense, not all fill words and run-on sentences. Please write a response complimenting the topic manner and expand on it. Please separate out each response into two separate files.
1) Oquendo
A big risk that hits firms is financial risk and it is considered a top priority in almost every business. It all has to do when the market is moving, like interest rates, stock prices and currencies, which brings on multiple factors that come into play. Financial risk can be put into separate categories like: Liquidity Risk, Legal Risk, Credit Risk and Market Risk. I believe that strong risk management can be beneficial for a business, some examples include the protection of assets, and reduction of business liability. Sometimes an organizations lack of involvement to implement risk frameworks can be a challenge.
Any business that wants to be financially stable and operate well must practice effective risk management. The foundation of an organization’s financial future may be the implementation of a risk management framework that incorporates best practices throughout the firm’s risk culture.
While designing a framework for risk management, at least five essential elements must be taken into account. They are risk governance, risk reporting and monitoring, risk reporting and assessment, risk mitigation, and risk identification.
Defining the risk universe is the first step in recognizing the risks that a company confronts. Simply put, the risk universe is a catalog of all potential dangers. Instances comprise of credit risk, regulatory risk, operational risk, legal risk, political risk, and regulatory risk. A organization may choose the risks to what it is subjected following outlining all potential dangers and classifying them into core and non-core risks. The organization must take core risks if it wants to improve performance and experience long-term growth. Non-core hazards can frequently be reduced in severity or eliminated entirely because they are not critical.

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