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STRATEGIC MANAGEMENT OF OPERATIONAL RISKS IN FINANCIAL INSTITUTIONS

Agwu , M. Edwin and Iyoha, F. O. and Ikpefan, Ochei Ailemen and Atuma, Okpara (2015) STRATEGIC MANAGEMENT OF OPERATIONAL RISKS IN FINANCIAL INSTITUTIONS. European Journal of Business, Economics and Accountancy, 3 (1). ISSN 2056-6018

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Abstract

Risks abound in all spheres of life and mitigating same and its effects has become an uphill task especially for profit making organisations and financial institutions all over the world. The global financial crisis of 2008 has been attributed to depletion of trust in the banking sector and demise of some business organisations. One wonders if the banks and organisations concerned are doing anything to manage the risks of market failures with a view to maintaining good reputations in order to win back customers’ trusts and loyalties. The new formidable cyber warfare was also x-rayed with a detailed exploration of its debilitating effects on business continuity. In achieving the objectives of this study, the risk management strategies adopted by banks and other business organisations was explored. And the organisational culture was also explored to ascertain the extent of its effects on the risk management strategies adopted. Among others, this study recommends that in the spirit of contributing to the international convergence of modern supervisory practices, organizations and financial institutions must extend their arms of cooperation to other international bodies

Item Type: Article
Uncontrolled Keywords: Financial institutions, risks, management, organisational culture.
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 27 Sep 2016 11:53
Last Modified: 27 Sep 2016 11:53
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/7256

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