ACF308 Risk Management in International Banking, Insurance and Finance

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Assignment 1 Guidance
Key points:
 Ensure you read the assignment information sheet and that you understand
the assessment criteria
 You must fulfil the assessment criteria to pass the assignment and the better
you fulfil these criteria, the higher your mark will be
 A critical review requires much more than simply describing what Old Mutual
(OM) does to manage risk. If you find yourself repeating large amounts of
information from OM’s annual report then you are being overly descriptive.
 Make sure you use quality academic sources. It is strongly recommended that
you focus on the sources recommended in class. If you use other sources and
they are not high quality or not relevant then you will lose marks.
 Structure your work around the 3 assignment tasks. Start with any relevant
theory and then use this to analyse the value and effectiveness of OM’s risk
management framework.
 Only complete the 3 tasks; do nothing else.
 No definitions or background is needed; this includes basic information about
OM. If you include any unnecessary information like this you will lose marks
and waste valuable words.
 Do not compare Old Mutual with any other organisation, you are using
academic literature only as the means to review Old Mutual’s risk
management.
 Spell and grammar check your work – there is no excuse for poor spelling or
grammar when Word will check this automatically. Good (high scoring) work
takes time and careful editing.
Introduction
This should be around 50-100 words
Explain that you are investigating the value and effectiveness of OM’s risk
management framework.
Explain that to achieve this you will be looking at the 3 question elements only.
Include no background (including no background on OM) or definitions. Even a
sentence or two of unnecessary material will lose marks.
The theoretical value of OM’s risk management activities
Around 700 words
Start with a brief explanation of why, in theory, risk management can add value to
OM. There is no need to define value, but you should explain that value is linked to
stakeholder satisfaction and ultimately a higher share price. The lecture on how risk
management can add value will be useful here (3 key theoretical reasons for value
are provided), supported by the following key sources:
R Stulz (1996) “Rethinking Risk Management” Journal of Applied Corporate Finance,
Vol 9, No. 3, pp8-25.
V Aebi, G Sabato, & M Schmid (2012) "Risk Management, Corporate Governance,
and Bank Performance in the Financial Crisis." Journal of Banking & Finance Vol.
36, No. 12, pp3213-3226.
S Bartram (2004) Corporate Risk Management as a Lever for Shareholder Value
Creation, Financial Markets, Institutions & Instruments, Vol 9, No 5, 297-324.
C Smithson & B Simkins (2005) “Does Risk management Add Value? A Survey of
the Evidence” Journal of Applied Corporate Finance, Vol 17, No. 3, pp8-17 (see also
Chew, Ch. 11)
Apply this literature to OM. Look for evidence in the annual report of how risk
management is adding value to OM. There is plenty of evidence you can use –
examples will be highlighted in class, so be sure to attend. Be careful not to provide
too much, quality is more important than quantity.
The effectiveness of OM’s enterprise risk management and risk appetite
frameworks
About 700 words
You should not attempt to define risk management or what a risk management
framework is. This would be too descriptive.
Rather you should start by explaining the elements of an effective (1) enterprise risk
management framework (ERM) and (2) risk appetite framework, as identified within
the relevant theoretical literature. This literature can then be used as the basis for
your review of the effectiveness of OM’s ERM and risk appetite frameworks.
The lectures on risk appetite and ERM are essential to help you understand the key
points to focus on within the theoretical literature, so be sure to attend these.
Important considerations include:
 Whether OM consider both risk and return
 Whether OM use soft tools, such as risk culture, as well as harder risk
management tools like risk metrics (see material on Simon’s levers of control)
 Whether OM use different tools to assess and control different types of risk
You will find the following sources especially useful here:
S Ashby and S Diacon (2012) Understanding Enterprise Risk Appetite, Insurance
ERM, 3 rd August, http://www.insuranceerm.com/
CRO Forum (2013) Establishing and Embedding Risk Appetite: Practitioner’s View,
Chief Risk Officer’s Forum, Amsterdam, www.croforum.com
COSO (2017) “Enterprise Risk Management: Integrating with Strategy and
Performance” www.coso.org/Documents/2017-COSO-ERM-Integrating-with-
Strategy-and-Performance-Executive-Summary.pdf
G Kaplan and A Mikes (2014) “Towards a Contingency Theory of ERM”, Harvard
Business School Working Paper, 13-063
(http://www.hbs.edu/faculty/Publication%20Files/13-063_5e67dffe-aa5e-4fac-a746-
7b3c07902520.pdf)
B Nocco and R Stultz (2006) “Enterprise Risk Management Theory and Practice”,
Journal of Applied Corporate Finance, Vol 18, No 4, pp8-20. Note: this is an easy
paper to read, but a little old, it is recommend that you supplement this with:
P Bromiley, M McShane, A Nair and E Rustambekov (2015) “Enterprise Risk
Management: Review, Critique, and Research Directions” Long Range Planning, Vol
48, pp 265-276
C Callahan and J Soileau (2017) “Does Enterprise Risk Management Enhance
Operating Performance?” Advances in Accounting, Vol 37, pp122-139 (you can
ignore sections 4 and 5)
You should then look for evidence in OM’s annual report to examine whether or not
they have effective ERM and risk appetite frameworks. Look for both positive and
negative evidence. Possible evidence that you could use will be identified in the
relevant classes. Use the ‘Find’ tool in Acrobat Reader to search for more.
Whether OM’s corporate governance arrangements adequately support their
risk management activities
About 700 words
In the lecture on governance we will focus on one key theme: whether integrating
risk management and corporate governance supports, or hinders, effective risk
management. This is the issue that you should focus on here.
The academic literature on risk management has not looked at this issue in detail, as
it is a new area of research. But you will find the recommended reading in the lecture
on corporate governance helpful, as well as the lecture contents. See especially:
A Bhimani (2009) “Risk Management, Corporate Governance and Management
Accounting: Emerging Interdependencies.” Management Accounting Research, Vol
20, No. 1, pp2-5
S Lundqvist (2015) “Why firms implement risk governance : stepping beyond
traditional risk management to enterprise risk management” Journal of Accounting
and Public Policy, Vol 34, pp 441-446
In this section look for evidence on how OM’s corporate governance arrangements
support, or hinder, its risk management activities. Possible evidence that you can
use will be identified in the lecture on governance.
Conclusion
About 300 words
Provide a final answer to each of the three question elements, highlighting the key
evidence you have to support your conclusion. Never say ‘I think’ and never provide
an unsubstantiated opinion. Remember opinion counts for nothing without evidence
(usually this evidence will be from OM’s annual report and/or the relevant academic
literature).
Use the above to sum up whether OM’s risk management activities are both effective
and value adding.
Note that you should not provide any recommendations on how OM could improve –
this is not part of the question. If you include any points that have not been included
in the assignment brief you will lose marks.
Spend time on writing a good conclusion – it will help you to get more marks. Paul
Harington can provide advice on this if needed.

 
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Business Communication

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College
Business Communication
Research & Report Writing
6 Page(s) | MLA | Double-spacing
Apply one of the theories or ideas discussed this term about George Orwell’s novel 1984. Discuss what Orwell is saying about a specific aspect of organizational life, values, and/or meanings in this book; second, using specific examples from the novel and from real contemporary organizations, assess whether the idea you have discussed applies to contemporary organizational life.
Source: chapter 1-6
Complete Instructions:
Please write a paper in response to the topic stated below. Your paper should be approximately six double-spaced pages long (not shorter than five or longer than seven pages). Please use standard margins (one inch) and fonts (11 or 12 point), and include page numbers. Please do not tweak fonts or page layouts to alter the number of pages you submit. I require that you write in an academic tone and style; however, you may use the pronoun “I” when logical to do so. This topic is a starting point, but it needs to be narrowed down, sharpened, and crafted into the basis of an argument. In your paper, you must defend a position based on a clear thesis statement.
In the paper, you should make specific references to our course readings and/or classes. You may also refer to other sources; however, the argument and analysis should be your own. Please do not rely on the opinions of literary or other scholars. Your job is to apply the theories and ideas you have encountered so far in the course to the novel.
Please cite your sources by following APA or MLA documentation conventions. You may learn about citation at Purdue University’s OWL website, easily accessible via Google. Write carefully and grammatically; the quality of your writing counts.
Topic: Please apply one of the theories or ideas we have been discussing and reading about this term to George Orwell’s novel 1984. As you do so, first, discuss what Orwell is saying about a specific aspect of organizational life, values, and/or meanings in this book; second, using specific examples from the novel and from real contemporary organizations, assess whether the idea you have discussed applies to contemporary organizational life.
Class Material:
Main Source: Organizational Communication: Balancing Creativity and Constraint, 8th Edition, by Eric M Eisenberg, H.L. Goodall Jr., Marianne Le Greco an Angela Trethewey. Focus on Chapters 1 – 6.
 
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Employability In Action Module Code: B8LL100

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Title: Reflective journal, the individual student will reflect on one of the following
topics using the Gibbs model as a reference:
 The importance of Emotional intelligence in today’s workplace.
 The changing work place and how that will affect our current notion of
work.
 Technology and how it has changed the art of conversation.
 Communication is a difficult skill? Why?
Academic writing/ references 40%
Reflective content 40%
Formatting and lay out 20%
The assessment cover sheet must be completed and attached to your
assessment (The individual Lecturer may return your assessment not graded if
the cover sheet is not included)
General Assessment Submission Requirements for Students:
1. Online assignments must be submitted no later than the stated deadline.
2. All relevant provisions of the Assessment Regulations must be complied with.
3. Extensions to assignment submission deadlines will be not be granted, other than in
exceptional circumstances. To apply for an extension please go to http://www.dbs-
students.com/Registrar/ and download the Assignment Extension Request Form.
4. Students are required to retain a copy of each assignment submitted, and the
submission receipt.
5. Assignments that exceed the word count will be penalised.
6. Students are required to refer to the assessment regulations in their Student Guides
and on the Student Website.
7. Dublin Business School penalises students who engage in academic impropriety (i.e.
plagiarism, collusion and/or copying). Please refer to the attached referencing
guidelines for information on correct referencing.
What is referencing and why is it necessary?
Please follow this link to the Harvard Style Referencing Guide – all referencing is required in
this format.


The School of Arts generally use APA Referencing , information is available under DBS
library guides on www.library.dbs.ie.

 
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BUSL251

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2. Media Reflection Assignment [20%] – Prepare an analysis of a current (published
after 1 July 2017) Australian newspaper/media article that relates to the material
covered from Lecture 4 forward – that is, from Lecture 4 to Lecture 11 inclusive
(maximum length – 500 words). To succeed in this assessment the article must be
current (as defined above) and your analysis concise, showing the relationship
between the article and an aspect of the unit. This assessment involves elements of
critical thinking: issues raised in the article are to be articulated, analysed and
thereafter interpreted in the light of the unit content. This assessment (your written
analysis only, not the newspaper/media article) must be submitted via iLearn/Turnitin
by 6pm Monday in Week 11 of the session. A hard-copy of the assignment (plus the
relevant newspaper/media article) must also be submitted (handed-in) in your
allocated/scheduled tutorial in Week 11 of the session. No extensions will be granted.
There will be a deduction of 10% of the total available marks made from the total
awarded mark for each 24 hour period or part thereof that the submission is late (for
example, 25 hours late in submission – 20% penalty). This penalty does not apply for
cases in which an application for Disruption to Studies is made and approved. Note:
Students should individually select articles – this is an individual assignment (do not
use any of the articles already posted on iLearn). Particulars of the Assignment: What
is expected – Peruse business pages of newspapers such as the Sydney Morning
Herald, the Age, or the Australian Financial Review during the currency of the unit
(you can use Factiva through the Library to do this) and choose an article that relates
to one (or more) of the topics dealt with in the material covered in Lecture 4 to
Lecture 11 inclusive (the article can be found either in the hardcopy press or online) –
it must be an Australian based publication because you are commenting on Australian
law. How marks are allocated – Your ability to identify/align/ relate/ apply appropriate
unit content (law) to the issues raised by the relevant article is the most important part
of your assignment. Assignments that achieve this in a clear and concise manner will
receive higher marks. Simply summarising an article, or simply reciting the law
without relating it to the issues arising in the article, will not receive high marks. You
should analyse the article having regard to the area(s) of law it raises – you are using
the issues raised in the article to highlight how the law applies. Marking procedure –
marking of your assignment will be carried out by your tutor – marks will be entered
into Grades in iLearn and will be available when all assignments have been marked
and entered. Time to be spent on task – see the Unit Guide. ***Following are
examples of factors that will indicate higher order performance in relation to your
Media Reflection Assignment – the following 3 criteria will form the essence of how
your performance will be assessed: Choosing an appropriate article The article must
focus on an issue or issues that have a direct relationship to the unit content from
Week 4 (Lecture 4) forward; it must be published by a reputable source such as an
established newspaper (not a legal blog); it should be of appropriate length (very short
or very long articles should be avoided). Ability to identify/relate relevant law to the
issue(s) raised in the article Following a short summary of the article chosen
(including title, source and date) the assignment must show evidence of the
articulation of the relevant issues and law, an analysis of those issues having regard to
the relevant law, and an interpretation of the relationship between the issues evident in
the article and the relevant law A clear, ordered and concise assignment The
assignment must be typed (font must be easily readable and of adequate size – for
example, Times New Roman 12), single spaced and include a cover sheet including
your relevant details:
http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/assign
ment_cover sheets Your tutor must be able to easily understand what the article is
about from your summary and must be able to easily see how you have used the
relevant law to explain the issues that arise from the article Students who achieve the
factors referred to in all of the above 3 criteria will receive a high mark. Students who
fail to achieve the factors referred to in all of the above 3 criteria will receive a low
mark
Media Reflection Assignment
Due: Week 11 beginning 23 Oct 2017
Weighting: 20%
This assessment involves a written analysis of a current Australian newspaper/media
article. It must be submitted via iLearn/Turnitin by 6pm Monday (23 October 2017) in
Week 11 of the session. A hard-copy of the assignment (plus the relevant
newspaper/media article) must also be submitted (handed-in) in your allocated/scheduled
tutorial in Week 11 of the session. See Assessment Guide on iLearn for more
information.
Extension and penalties
No extensions will be granted. There will be a deduction of 10% of the total available
marks made from the total awarded mark for each 24 hour period or part thereof that the
submission is late (for example, 25 hours late in submission – 20% penalty). This penalty
does not apply for cases in which an application for Disruption to Studies is made and
approved.
This Assessment Task relates to the following Learning Outcomes:
 Examine the Australian legal system’ including the law of contract, and
comprehend the characteristics of different business organisations including
understanding how companies are formed, distinguishing between different types
of companies and the relevance of the company constitution.
 Effectively recognise corporate management issues, in particular formulate an
understanding of the role and obligations of directors.
 Appraise and evaluate how shareholders rights are protected and how the
Corporations Act regulates acquisition and disposal of shares.
 Analyse insolvency mechanisms and issues and critically assess corporate
insolvency in the current regulatory environment.
 Ability to synthesise, analyse and evaluate legal issues in a commercial context
including the ability to apply the law and recognise various perspectives.

 
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