Regulatory Changes And Regulatory Risks

Many types of risk are created – risk to the project, to the organization, to the employees involved and to the individuals supporting the change.

When planning a risk assessment and looking at possible risks, the decisions that are made for the benefit of the service user should be made after collecting all of the information available. Any reasons give should be able to be defended by looking at every angle that shows that it is in the best interest of the service user with as much risk being removed as possible.

The purpose of risk assessment is not to remove risks, but to take reasonable steps to reduce them. The process involves looking at the risk, and considering what can be done to make it less likely that the risk will develop into a reality. This can be done through implementing policies and codes of practice, acting in individual’s best interests, fostering culture of openness and support being consistent, maintaining professional boundaries and following systems for raising concerns.

With these risks highlighted then reduction of risk, both positive and negative can be identified.

To get a better handle on the options and the risks associated with them, the company estimates the severity of each event and calculates the level of risk (based on severity of the event and the probability of occurrence). The events are then ranked with those exhibiting the highest risks placed at the top of the list. Next, the source of high-risk events is investigated.

impact of the identified risks to the organization based on key business drivers (loss of life, loss of

Weigh up the risk: a risk is the likelihood that a hazard will cause harm

State the administrative agency that controls the regulation. Explain why this agency and your proposed regulation interest you (briefly). Will this proposed regulation affect you, or the business in which you are working? If so, how?

First I would categorized them in 3 different groups, business related, political and environmental, but is very important to mention that in some cases a single risk can be categorize in more than one group, for example, that is the case of the weather risk that I consider in the environmental group but it has a direct impact in the business related group.

Create a professional report detailing the information above as an initial draft of the risk

* There are three (3) schools of thought regarding risk. The first considers the positive and negative aspects of risk, but sees them as separate. The second group believes that there are benefits from treating threats and opportunities together, while the third school does not label uncertainties, but addresses uncertainty as part of “doing the job.” Argue the value of having a risk strategy despite the cost associated with it. Include an example to support

3. Change leads to risk, and some significant changes have occurred. Which of these changes lead to the greatest risk?

Determining the level of risk should be broken down into 4 categories: low, medium, high or very high. A consequences scale should also be created. Different levels of risk bring on different level of consequences.

Research suggests that government and large financial institutions should not be allowed to regulate cryptocurrency, because eventually it will change cryptocurrency to mirror our current paper currency system, and ultimately remove the freedom and anonymity associated with the use of cryptocurrency.

 analysing the risks to determine the level of risk, which is defined as the