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Enterprise Risk Management Practices in Kenya

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Harvard	Chege, S., Wanyembi, G. and Nyamboga, C., 2023. Enterprise Risk Management Practices in Kenya. pp.15-26.
APA	Chege, S., Wanyembi, G. & Nyamboga, C. (2023). Enterprise Risk Management Practices in Kenya. 15-26.
Vancouver	Chege S, Wanyembi G, Nyamboga C. Enterprise Risk Management Practices in Kenya. . 2023 Apr,8(1):15-26.
MLA	Chege, Stanley, Wanyembi Gregory, and Nyamboga Constantine. "Enterprise Risk Management Practices in Kenya." 8.1 (2023): 15-26.
Chicago	Chege, Stanley, Wanyembi Gregory, and Nyamboga Constantine. "Enterprise Risk Management Practices in Kenya." 8, no.1 (2023): 15-26.

1. Introduction

ERM standards and frameworks provide guidance and best practices for managing risk in organizations (Bromiley and Rau, 2014). Organizations can choose the framework that best suits their needs and implement it to improve their risk management practices (Bromiley, McShane, Nair and Rustambekov, 2015). There are several risk management standards and frameworks available that organizations can use to manage risks effectively (Hutchins, 2018).

ISO 31000:2018 is an international standard for risk management that provides a comprehensive framework for risk management, including principles, guidelines, and a process for managing risk. ISO 31000 is a flexible standard that can be applied to any organization, regardless of size, industry, or sector (Simona and Cristian, 2018).

The COSO ERM is a framework for enterprise risk management that helps companies manage risks and achieve their strategic objectives. The framework includes five components: governance and culture, strategy and objective setting, performance, review and revision, and information, communication, and reporting (Moeller, 2007).

The National Institute of Standards and Technology (NIST) Risk Management Framework (RMF) is a widely used framework for managing cybersecurity risk, which includes six steps: categorize, select, implement, assess, authorize, and monitor (Maclean, 2017).

The Silicon Valley Bank (SVB) recently experienced a significant collapse attributed to problems with risk management practices, which has been described as a colossal failure in asset-liability risk management (Oxford Analytica, 2023a). The bank failed to adequately manage its risks related to interest rate changes, leading to significant dislocation that triggered a mass withdrawal of deposits by startup clients. This, in turn, led to a liquidity crisis that ultimately caused the bank to collapse. The collapse of SVB has had significant repercussions for both depositors and borrowers, many of whom are startup companies and venture capitalists (Oxford Analytica, 2023b).

The Enron scandal was a sequence of events that resulted in the bankruptcy of Enron Corporation and the dissolution of Arthur Andersen LLP, one of the world’s largest auditing and accounting companies. The collapse of Enron, which held assets worth more than $60 billion, resulted in one of the largest bankruptcy filings in history (Petrick and Scherer, 2003).

Enron’s collapse also highlighted the inadequacy of its risk management practices. The company used complex and opaque accounting methods to conceal its actual financial position, preventing stakeholders from evaluating the risks associated with investing in the company. Enron’s risk management framework was also found to be inadequate and unable to identify and manage the risks associated with the company’s business operations. The Enron scandal serves as a warning about the importance of effective risk management practices and transparency in financial reporting (Nelson, Price and Rountree, 2008).

The 2008 financial crisis was a catastrophic event that had a negative impact on the economy. One of the major contributors to the crisis was the failure of risk management practices. Liquidity risk management weaknesses, as well as other areas of risk management, such as market, credit, and operational risks, were significant contributors to the crisis (Erkens, Hung and Matos, 2012).

The crisis exposed the limitations of banks’ risk management, despite the use of complex models and algorithms to manage risks. Failures in corporate governance and risk management at many systemically important financial institutions were the primary causes of the crisis (Spiegel, 2011). The 2008 financial crisis revealed significant deficiencies in risk management practices in the financial industry, including inadequate attention to liquidity risk, poor risk modeling, and failures of corporate governance (Luchtenberg and Vu, 2015).

2. Problem Statement

The absence of effective risk management systems in organizations has resulted in the downfall of corporate giants. As a consequence, investor confidence has been weakened (Simona and Cristian, 2018). To re-establish investor confidence and guarantee business resilience and sustainability, organizations must establish sturdy ERM systems. However, the primary issue is that organizations do not have a strategy to implement resilient ERM systems (Tahir and Razali, 2011). Furthermore, some organizations in Kenya encounter the particular problem of not having effective ERM systems, standards, and frameworks.

3. Literature Review

3.1. iso 31000:2018.

ISO 31000:2018 is a set of guidelines for managing risk faced by organizations. The standard includes eight principles for effective risk management that aim to create and protect value, improve performance, encourage innovation, and support the achievement of objectives (Tranchard, 2018).

One strength of ISO 31000:2018 is its flexibility. The guidelines can be customized to any organization and its context, allowing for a tailored approach to risk management. Another strength is that the use of simplified language and purpose statements in the standard can make it easier for organizations to understand and implement (Wicaksono, 2020).

One limitation is that the standard is too general and lacks specific guidance on how to implement risk management practices. Another limitation is that the standard is voluntary and not legally binding, which may limit its effectiveness. The standard is a flexible set of guidelines for managing risk that can be tailored to any organization and its context. The standard includes principles for effective risk management but may lack specific guidelines and is not legally binding (Parviainen, Goerlandt, Helle, Haapasaari, and Kuikka, 2021).

ISO 31000:2018 includes the following clauses: The Scope clause defines the scope of the standard and provides an overview of the guidelines it contains. The Normative clause references list the references used in the standard. The Terms and Definitions clause provides definitions for key terms used throughout the standard. The Principles clause identifies eight principles for effective risk management (Syahputri, and Kitri, 2020). These principles aim to create and protect value, improve performance, encourage innovation, and support the achievement of objectives. The Framework clause describes the risk management framework, including its components and how they are integrated. The Process clause outlines the risk management process, which includes establishing the context, assessing risk, treating risk, and monitoring and reviewing risk (Rampini, Takia, and Berssaneti, 2019). The Monitoring and review clause describes the monitoring and review process, including how to evaluate the effectiveness of risk management and make improvements as needed. The Communication and consultation clause emphasizes the importance of communication and consultation throughout the risk management process. The standard has annexes namely: Annex A provides additional guidance on establishing the context for risk management. Annex B provides additional guidance on assessing risk. Annex C provides additional guidance on treating risk. Annex D provides additional guidance on monitoring and reviewing risk (Qinthara, Sutari and Salma, 2021).

ISO 31000:2018 includes eight principles for effective risk management. The standard outlines a risk management framework and process, as well as guidance on monitoring and review, communication and consultation, and additional guidance in four annexes (Alijoyo, 2022).

ISO 31000:2018 Clause 4 deals with Principles. The eight principles are: Risk management (RM) creates and protects value; RM integrates into organizational processes; RM is part of decision-making; RM explicitly addresses uncertainty; RM is systematic, structured, and timely; RM is based on the best available information; RM is tailored to the organization; RM takes human and cultural factors into account (Hutchins, 2018).

ISO 31000:2018 underscores the wisdom of infusing RM into all organizational activities, processes, and decision-making. Organizations should implement the ISO 31000 principles and components that are best suited to their specific circumstances and modify other principles and components (Simona and Cristian, 2018).

ISO 31000:2018 Clause 4 of the standard focuses on the risk management framework. The risk management framework consists of three key elements: risk management principles, the risk management framework itself, and the risk management process. The principles include concepts such as risk ownership, risk communication, and continuous improvement. The framework sets out the overall approach to managing risk, including the establishment of objectives, the identification of risks, and the development of risk treatment plans. The risk management process involves a cyclical series of steps, including risk identification, analysis, evaluation, treatment, and monitoring and review. Clause 4 of ISO 31000:2018 provides a comprehensive overview of the risk management framework and its key components (Tranchard, 2018).

The ISO 31000:2018 Clause 5 focuses on the principles of RM. Risk management should be infused into all processes and cultures. The clause highlights the importance of evaluating the external and internal context of an organization, including the identification of stakeholders and their requirements, in the risk management process. The clause also emphasizes the need to establish clear and concise risk management objectives and to take a proactive approach. ISO 31000:2018 puts a greater emphasis on integrating risk management into all organizational activities, processes, and decision-making, as opposed to being a separate, departmentalized activity (Wicaksono, 2020).

ISO 31000:2018 Clause 6 outlines the RM process. The clause highlights the vitality of a structured approach to risk assessment and treatment, which may involve selecting and applying risk evaluation techniques, developing, and implementing risk treatment plans, and evaluating the effectiveness of risk management actions. The clause concludes by stressing the need for ongoing monitoring and review of the risk management process to ensure its continuing effectiveness and relevance (Parviainen, Goerlandt, Helle, Haapasaari, and Kuikka, 2021).

ISO 31000:2018 Clause 7 deals with monitoring and reviewing the risk management framework, criteria, analysis, and treatment to ensure that they remain relevant and effective. Monitoring and review are essential components of a successful risk management strategy that follows the ISO 31000 framework. Continuous evaluation is necessary as the organization evolves, and reviews could be conducted on a monthly, weekly, or annual basis (Syahputri and Kitri, 2020).

The ISO 31000:2018 Clause 8 deals with the communication and consultation aspect of risk management. The clause emphasizes the importance of clear and effective communication throughout the entire risk management process, including identifying, assessing, treating, monitoring, and reviewing risks. The standard recommends that organizations establish communication protocols that ensure all relevant stakeholders are kept informed about risks and risk management decisions. This includes both internal stakeholders, such as employees and management, and external stakeholders, such as customers, suppliers, and regulators. The clause also highlights the importance of consultation with stakeholders, particularly in the risk assessment and treatment phases, to ensure that all perspectives and concerns are considered (Rampini, Takia and Berssaneti, 2019).

The standard may be summarized as follows: Principles: This clause outlines the fundamental principles of risk management, including the need for a structured approach and the importance of considering the internal and external context. Framework: This clause outlines the overall framework for managing risk, including the establishment of a risk management policy and the identification of risk criteria (Alijoyo, 2022). Process: This clause describes the risk management process, including the steps of risk identification, analysis, evaluation, treatment, monitoring, and review. Monitoring and review: This clause outlines the ongoing monitoring and review of the risk management process to ensure its continued effectiveness. Communication and continual improvement: The clause emphasizes the importance of continually improving the risk management process through evaluation and feedback (Qinthara, Sutari, and Salma, 2021).

3.2. NIST Risk Management Framework (RMF)

The National Institute of Standards and Technology (NIST) Risk Management Framework (RMF) is a comprehensive, flexible, risk-based approach that integrates security, privacy, and cyber supply chain risk management activities into the system development life cycle. The RMF provides a process for organizations to manage their risk in a structured, consistent, and repeatable manner (Maclean, 2017).

One strength of the RMF is its ability to complement an organization’s existing cybersecurity program and risk management processes. Through the creation of profiles, organizations can identify areas where existing processes may be strengthened or new processes can be implemented (Rose, 2022). The RMF offers a wide range of controls and control types that can be implemented through policies, plans, and operational procedures, as well as through the configuration of operating systems and applications (McCarthy and Harnett, 2014).

One limitation of the RMF is that it can be complex and time-consuming to implement. The RMF requires a significant amount of documentation and coordination between multiple stakeholders, which can make it difficult to manage and maintain over time. The RMF may not be suitable for all organizations, as it is primarily designed for federal agencies and other large organizations with complex systems and extensive security requirements (Patel, 2011).

The NIST RMF provides a comprehensive, flexible, risk-based approach to managing an organization’s security, privacy, and cyber supply chain risk management activities. While the RMF has strengths in its ability to complement existing cybersecurity programs and provide a wide range of controls, it may be complex and time-consuming to implement, and may not be suitable for all organizations (Rose, 2021).

3.3. COSO ERM

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) Enterprise Risk Management (ERM) framework is a widely accepted framework that defines internal control as a process designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance (Anderson, 2017). The framework is designed to improve the corporate governance function within organizations and monitor security, risk, and compliance programs to ensure adherence to policies, goals, and laws (Gjerdrum and Peter, 2011).

One strength of the COSO ERM framework is its widespread acceptance in the accounting literature and by entities. The framework is designed to improve risk assessments within organizations and encourage a more proactive approach to risk management (Williamson, 2007).

One limitation is that the COSO ERM may not be suitable for all organizations, as it is primarily designed for large public companies and government entities (Scott, 2004). The framework may not be sufficiently comprehensive in addressing all aspects of risk management, such as emerging technology risks and strategic risks (dan Perbankan, 2021).

The COSO ERM framework is widely accepted in the accounting industry and by entities and is designed to improve risk assessments and corporate governance within organizations. The framework may not be suitable for all organizations and may not sufficiently address all aspects of risk management (Williamson, 2007).

3.4. Organizational Resilience

Organizational resilience is a critical factor for businesses to survive and thrive in uncertain times. Businesses can develop resilience by implementing scripted routines, simple rules, and the ability to improvise. Organizations can build resilience across six crucial dimensions: financial, operational, technological, organizational, reputational, and business model resilience (Fiksel, 2015).

Building resilient teams is crucial for organizational resilience. Resilient teams build caring and supportive relationships with each other, which is the basis of their productivity. Succession planning has several benefits for organizational resilience. The planning can protect the business from sudden unexpected changes by ensuring that there is a plan in place to handle such events. The planning can help to retain talent by providing employees with a clear direction for career advancement and making them feel valued. The planning can contribute to the development of a diverse and inclusive leadership team and organizational culture. The planning can facilitate effective onboarding and communication between employees and their superiors, leading to a better-functioning organization (Dalziell, and McManus, 2004).

The best practices for organizational resilience include developing scripted routines, implementing simple rules, and improvisation, building resilience across six crucial dimensions, and fostering supportive relationships within teams. By adopting these practices, businesses can better cope with and thrive in uncertain times. There is a relationship between good practices in enterprise risk management and organizational resilience (Burnard and Bhamra, 2011).

Organizational resilience is the ability of an organization to anticipate, prepare for, respond to, and recover from disruptions in a way that enables it to continue its operations, grow and evolve. Resilient organizations can become more adaptable and agile, and better equipped to face the challenges of the modern world (Erol, Sauser and Mansouri, 2010).

3.5. Corporate Governance

Corporate governance refers to the set of practices and policies that ensure that a company is directed and managed effectively. Some of the good practices of corporate governance are clearly defining the roles and responsibilities of the board of directors, management, and other stakeholders is essential for effective corporate governance (Fung, 2014).

Companies should maintain transparency in their operations, financial reporting, and decision-making processes. This helps build trust among stakeholders and reduces the risk of fraud and corruption. Companies should establish mechanisms to hold directors, management, and other stakeholders accountable for their actions. This includes setting performance targets, conducting regular performance evaluations, and implementing consequences for non-compliance (Davies, 2012).

Organizations should foster a culture of ethics and integrity. A strong ethical culture is essential for effective corporate governance. Companies should establish a code of conduct and ensure that it is communicated and enforced throughout the organization. Companies should identify and manage risks to the business, including financial, legal, and reputational risks. This includes establishing risk management policies and procedures and conducting regular risk assessments (Sarbah and Xiao, 2015).

Companies should maintain strong relationships with stakeholders, including shareholders, employees, customers, and suppliers. This helps build trust and ensures that the company’s decisions are aligned with stakeholder interests. Organizations need to ensure continuous monitoring and evaluation. Companies should regularly review their governance practices and policies and make necessary improvements to ensure their effectiveness. Companies should ensure effective corporate governance, build trust among stakeholders, and create long-term value for shareholders (Shanikat and Abbadi, 2011).

3.6. The World Economic Forum (WEF) Global Risks Report

The WEF published the Global Risks Report 2023. This report explores the severe risks that may arise over the next decade, such as climate change, geopolitical instability, and cyber threats (WEF, 2023). The report highlights that the short-term risk landscape is dominated by energy, food, debt, and natural disasters. The most vulnerable demographics and regions are already suffering. The report warns that tougher trade-offs risk eroding climate action, human development, and future resilience (WEF, 2023).

The report includes a ranking of the top 10 risks based on their likelihood and potential impact, with the top five risks being extreme weather, infectious diseases, biodiversity loss, cyber-attacks, and the failure of national governance systems. The WEF Global Risks Report 2023 provides a comprehensive analysis of the most severe risks that may impact the world over the next decade and offers insights and strategies to mitigate them (WEF, 2023).

The COBIT (Control Objectives for Information and Related Technology) framework is a comprehensive set of globally accepted practices, analytical tools, and models designed for the governance and management of enterprise IT. COBIT can be used as a benchmark to map current policies and procedures. COBIT can define or refine a process or identify areas of improvement in the implementation of IT governance (De Haes, Van Grembergen and Debreceny, 2013).

COBIT 2019 is an umbrella framework that references several standards, including the ISO/IEC 27000 series, ITIL, and NIST, and provides a holistic and integrated approach to enterprise IT governance and risk management (Năstase, Năstase and Ionescu, 2009).

COBIT is not a standalone framework for risk management. COBIT is a set of practices and processes for IT governance and management, which includes risk management as one of its components. Organizations should complement COBIT with other frameworks or standards, such as ISO/IEC 31000 or COSO ERM, to ensure a comprehensive and effective risk management process (Zhang, le Fever and le Zhang, 2013).

4. Methodology

The study employed the qualitative case study design. The qualitative case study design is a research method that involves an in-depth exploration of a particular phenomenon or case through detailed analysis of various sources of data (Baxter and Jack, 2008). The qualitative case study design offers researchers the ability to gather detailed information and analyze data in-depth. The limitations of the design include the potential for bias, limited generalization, and time-consuming data collection and analysis (Stake, 2008).

5. Case Studies

5.1. safaricom kenya.

Safaricom Kenya is a telecommunications company that provides mobile phone, broadband, and digital services. The company has a comprehensive approach to risk management, which involves identifying, assessing, and mitigating potential risks (Safaricom, 2023a).

One of the key topics covered in their sustainability reports is governance, risk management, and compliance. Safaricom has implemented a GRC system that enables them to manage regulations, and compliance, and track risks and related controls across the enterprise. This system has allowed for the easy integration of governance, risk, and compliance activities into existing processes (Safaricom, 2023b).

Safaricom Kenya has a comprehensive approach to risk management that involves identifying, assessing, and mitigating potential risks across its operations. The company’s risk management practices include ERM, risk assessment, operational risk management, business continuity planning, and compliance management (Otera, 2020).

5.2. Equity Bank Holdings Kenya

Equity Bank Holdings Kenya is a financial services company that provides banking and financial solutions. The company has a robust approach to risk management that ensures that potential risks are identified, assessed, and mitigated to protect the business and its customers.

Equity Bank is committed to complying with all applicable regulations. The company has a compliance management framework that ensures it meets all regulatory requirements and industry best practices. Equity Bank Holdings Kenya has a robust approach to risk management that involves identifying, assessing, and mitigating potential risks across its operations. The company’s risk management practices include ERM, risk assessment, credit risk management, operational risk management, and compliance management (Kariuki, 2020).

5.3. KCB Bank Group

KCB Bank Group provides banking and financial services in Kenya. The bank has implemented several risk management practices to ensure that potential risks are identified, assessed, and mitigated effectively. KCB Bank Group has a robust approach to risk management that involves identifying, assessing, and mitigating potential risks across its operations. The bank’s risk management practices include ERM, risk assessment, credit risk management, operational risk management, compliance management, disaster recovery, and business continuity planning (Wanjohi, 2013).

5.4. Co-operative Bank of Kenya

Co-operative Bank of Kenya is a financial institution that provides banking and financial services in Kenya. The bank has implemented several risk management practices to ensure that potential risks are identified, assessed, and mitigated effectively.

The Co-operative Bank of Kenya has a robust approach to risk management that involves identifying, assessing, and mitigating potential risks across its operations. The bank’s risk management practices include ERM, risk assessment, credit risk management, operational risk management, compliance management, disaster recovery, and business continuity planning (Gweyi, 2013).

5.5. Stanbic Bank of Kenya

Stanbic Bank provides banking and financial services in Kenya. The bank has implemented several risk management practices to ensure that potential risks are identified, assessed, and mitigated effectively. The Stanbic Bank of Kenya has a robust approach to risk management. The bank released a risk and capital management report. The report provides insight into the risk management practices of the Standard Bank Group and the measures taken to mitigate potential risks. (Stanbicbank, 2023).

5.6. ICEA LION Kenya

ICEA LION has competent staff with professional experience in risk management, internal controls, and corporate governance. The organization values the expertise of professionals in enterprise risk management and has adopted the Kenyan insurance industry-specific guidelines for robust risk management.

ICEA LION is committed to sustainability and risk management practices. The company has adopted best-practice corporate governance practices, and long-term sustainability is a key pillar in its operations. ICEA LION’s commitment to sustainability is demonstrated by its projects and impact stories, which show how the company protects companies and consumers from environmental, social, and governance risks, contributing to a more sustainable future (Icealion, 2023).

5.7. CIC group

CIC Group is one of the leading insurance companies in Kenya and has experienced exponential growth over the years. CIC adopted a framework to assess ERM practices, which includes five dimensions: insights and transparency, natural ownership, risk appetite, and strategy, risk-related decisions and processes, risk organization and governance, and risk culture and performance transformation (cicinsurancegroup, 2023).

5.8. BRITAM

Britam is a financial services company in Kenya, offering a wide range of products and services in insurance and asset management. The company ensures that all risks are identified, analyzed, and evaluated regularly while identifying, defining, and describing the broad risk group. The company has competent personnel who provide oversight and direction for the management of all risks across the group and is responsible for the identification, assessment, and management of all risks associated with both new and existing business (Britam, 2023).

6. Conclusion

There are several recent trends in enterprise risk management. One trend is the recognition that the risk landscape is changing rapidly, and new risks and response strategies are emerging all the time. Due to the long-term repercussions of the COVID-19 pandemic and the possibility of a recession, companies are realizing the need for stronger Enterprise Risk Management (ERM) programs to compete in the new era (Amankwah-Amoah, Khan, Wood and Knight, 2021).

More enterprises are adopting risk maturity frameworks to consolidate workflows and establish a consistent risk management process across the organization. These frameworks provide a structured approach to risk management, enabling organizations to measure, track, and report their risk maturity levels (Ershadi, Jefferies, Davis, and Mojtahedi, 2020).

Environmental, social, and governance (ESG) risks are gaining prominence as investors, customers, and regulators are increasingly prioritizing sustainability and ethical business practices. Organizations are expanding their risk management frameworks to include ESG risks and disclosing their ESG performance to stakeholders (de Silva Lokuwaduge and de Silva, 2020).

As organizations become more reliant on technology to drive their business, technology risks such as cyber threats, data breaches, and system failures are increasing. Organizations are investing in advanced technologies such as artificial intelligence (AI) and machine learning (ML) to mitigate these risks. Cyber risk needs to be quantified in terms of monetary value via an exhaustive risk assessment process (Galaz, Centeno, Callahan, Causevic, Patterson, Brass and Levy, 2021).

With an ever-changing regulatory landscape, organizations are facing increased regulatory scrutiny and penalties. Organizations are adopting a proactive approach to regulatory compliance by leveraging risk management tools and frameworks to identify and mitigate compliance risks (Anagnostopoulos, 2018).

The COVID-19 pandemic illuminated the need for business continuity planning (BCP). Organizations are reviewing their BCPs to ensure they are effective in responding to unexpected disruptions and building resilience to future crises (Schmid, Raju and Jensen, 2021).

Various risk management teams need to work closely with business units to identify and manage risks. This will reduce siloed risk management functions and improve collaboration. This approach enables organizations to take a holistic view of their risk landscape and develop a coordinated response to mitigate risks. There is a need for organizations to enhance and contextualize risk monitoring according to the roles and profiles in the organization (Hasham, Joshi and Mikkelsen, 2019).

The practices of enterprise risk management (ERM) have evolved beyond traditional financial governance to include security, IT, third-party relationships, and GRC. The complexity in organizations, particularly due to data silos and operating environments, is causing enterprises to adopt integrated governance, risk, and compliance (IGRC) programs to simplify their risk management activities (Caldwell, Eid and Casper, 2008).

Many companies consider risk management as a strategy to improve business performance and gain a competitive advantage instead of just avoiding negative situations (Nocco and Stulz, 2006). Improving communication with employees, investors, and regulators in risk management is essential. While some risks are necessary for revenue expansion, a program must be in place to take decisive action if too many customers default (Gontarek and Bender, 2019).

Internal and external risk-sensing tools can generate risk intelligence, which helps identify trending and emerging risks, and improvements in all business units are necessary (Tounsi and Rais, 2018). The impact and frequency of extreme weather risk are growing, and CEOs and boards must implement risk management strategies to mitigate the effects on employees and assets (Sadgrove, 2016).

The top trends in enterprise risk management are the adoption of risk maturity frameworks, a new approach to the changing risk landscape, increased focus on ESG risks, technology risks, regulatory compliance risks, business continuity planning, and increased collaboration between risk management and business units (Lipton, Neff, Brownstein, Rosenblum, Emmerich, and Fain, 2011).

Robust enterprise risk management is associated with improved business performance. As businesses face more complex and varied risks, ERM becomes increasingly important (McShane, Nair and Rustambekov, 2011). Implementing a comprehensive ERM strategy can enhance business performance by identifying and addressing interruption risks, protecting against cyber threats, and promoting a risk-aware culture. By integrating ERM into strategic planning, organizations can achieve both their value creation and protection objectives. Appropriately addressing interruption risks can provide confidence and enable organizations to pursue business objectives more effectively (Arena, Arnaboldi and Azzone, 2010). As the volume and complexity of risks increase, organizations should focus on developing a strong ERM strategy to mitigate these risks and improve business performance (Hoyt a d Liebenberg, 2011).

Collaboration between business and IT units can improve risk management. IT can identify potential risks and vulnerabilities in the technology infrastructure, while business units can provide context and input on business risks and priorities (Gates, Nicolas and Walker, 2012).

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Entrepreneurial Education for Small and Medium-Sized Enterprises: An Exploratory Case Study

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Business Continuity and Resilience Planning Practices in Kenya

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DOI: 10.18775/jibrm.1849-8558.2015.81.3002
Corpus ID: 259927359

Enterprise Risk Management Practices in Kenya

S. Chege , G. Wanyembi , C. Nyamboga
Published in Journal of International… 1 April 2023
Business, Economics

43 References

Enterprise risk management (erm) implementation: some empirical evidence from large australian companies, the complete guide to business risk management, why do firms adopt enterprise risk management (erm) empirical evidence from france, enterprise risk management: review, critique, and research directions, operational risk analysis in department of enterprise risk management of pt. xyz based on iso 31000: 2018 framework, examining risk governance practices in global financial institutions: the adoption of risk appetite statements, the risk management of nothing, the organizational dynamics of enterprise risk management, does enterprise risk management increase firm value, the determinants of enterprise risk management (erm) practices in malaysian public listed companies, related papers.

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A technological perspective of bringing climate change adaptation, disaster risk reduction, and food security together in south africa.

1. Introduction

2. agriculture technology that incorporates cca and drr measures for improved fs: a literature review, 2.1. sentinel-2 earth observation technology, 2.2. hydroponics farming technology, 3. methodology, 3.1. case selection, 3.2. data collection and analysis, 4. findings, 4.1. sentinel-2 earth observation technology, 4.1.1. project overview, 4.1.2. project rationale, 4.1.3. incorporation of cca measures in the project.

“ The data provided by the technology has helped us incorporate climate change factors such as weather forecasting, comparing cropping seasons to see how crops are progressing to climate change .” (Sentinel-2 EO, management)

4.1.4. Incorporation of DRR Measures into the Project

“ We have successfully used the Sentinel-2 satellite imagery in the Western Cape area to demarcate the areas affected by fires in 2017, and this helped us advise farmers to avoid such vulnerable areas .” (Sentinel-2 EO, management)

“ We still have problems with data accuracy whereby a projection is given without information on the extent to which is expected to affect, which ends up into a disaster .” (NDMC official)

4.1.5. Challenges and Opportunities

“ The most significant opportunity brought by this technology is that the access to data is free and can be available to any stakeholder or any farmer in real time. Again, this data can be stored for up to 10 or more years, which helps in decision-making of comparing farming seasons .” (Sentinel-2 EO, management)

“ We can use this technology in a day-to-day farm operation and the good thing is we can compare notes through close links with other farmers, which aid the conduct and facilitation of agricultural business .” (Sentinel-2 EO, beneficiary)

“ We as farmers, do not understand direct data gathered from these satellites. It will be very helpful, if the Western Cape Provincial government managing this project provide us with training on how to interpret data from satellites especially the knowledge of different color images .” (Sentinel-2 EO, beneficiary)

4.2. Urban Agricultural Initiative (UAI) Food Security Project Using Hydroponics Technology

4.2.1. project overview, 4.2.2. project rationale, 4.2.3. incorporation of cca measures into the project.

“ Bringing food production to the city was a way to solve some climate change issues such as food miles that are caused by transportation of food from long distance farms, which contributes to the emission of greenhouse gases in the region .” (UAI, beneficiary)

“ We cannot feed the whole nation with produce from greenhouses, what about staple foods such as maize and wheat. What do you suggest we do ?” (DFFE, key informant)

4.2.4. Incorporation of DRR Measures into the Project

“ Hydroponic farming technology seems to be effective at a small-scale rather than at commercial level as the equipment used is expensive to someone with more than one hundred hectares of land .” (DALRRD respondent)

4.2.5. Challenges and Opportunities

“ There is need for decentralisation of market access whereby farmers can access markets in their own regions to reduce greenhouse gasses emitted while transporting food .” (UAI, beneficiary)

5. Discussion and Conclusions

Author contributions, institutional review board statement, informed consent statement, data availability statement, acknowledgments, conflicts of interest.

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Zembe, A.; Nemakonde, L.D.; Chipangura, P.; Coetzee, C.; Mangara, F. A Technological Perspective of Bringing Climate Change Adaptation, Disaster Risk Reduction, and Food Security Together in South Africa. Sustainability 2024 , 16 , 6844. https://doi.org/10.3390/su16166844

Zembe A, Nemakonde LD, Chipangura P, Coetzee C, Mangara F. A Technological Perspective of Bringing Climate Change Adaptation, Disaster Risk Reduction, and Food Security Together in South Africa. Sustainability . 2024; 16(16):6844. https://doi.org/10.3390/su16166844

Zembe, Annegrace, Livhuwani David Nemakonde, Paul Chipangura, Christo Coetzee, and Fortune Mangara. 2024. "A Technological Perspective of Bringing Climate Change Adaptation, Disaster Risk Reduction, and Food Security Together in South Africa" Sustainability 16, no. 16: 6844. https://doi.org/10.3390/su16166844

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13 Aug 2024 | 09:43 AM UTC

Kenya: unidentified gunmen ambush transport truck in marsabit county aug. 12, killing at least seven people, unidentified gunmen ambush truck traveling in marsabit county, kenya, late aug. 12, killing at least seven people. further attacks possible..

A group of unidentified gunmen ambushed a truck transporting food near Moyale, Marsabit County, along the Ethiopian border late Aug. 12. At least seven people died in the attack and another two were injured. The attackers also set the truck on fire. Kenyan authorities are investigating the incident and are still attempting to establish a motive.

An increased security presence is likely in the area over the coming days. Further attacks are possible.

Consult local officials before travelling to the impacted location. Reconfirm the status or road routes. Travel during the day. Maintain contact with your diplomatic representation. Travel with identification to allow quicker progress through checkpoints.

On Aug. 1, unidentified gunmen killed a police officer and injured three other people at a checkpoint in Moyale.

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Gaza-based militants launch assault on Israel October 7, 2023.

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Fall 2023 Issue

Collaborating for a Sustainable Kenya: Solutions to Irrigation and Water Management

The borders of Kenya expand from the Indian ocean to the edge of Uganda. A range of biomes and ecological diverse regions can be found there, from grasslands and mountain ranges to coastal plains. In May, several faculty members from NC State University’s College of Agriculture and Life Sciences (CALS) traveled to Kenya to strengthen communication for future collaboration and research.

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Among the group was Chadi Sayde, an assistant professor in the Department of Biological and Agricultural Engineering , who specializes in irrigation and water management. He spent the trip meeting with farmers, researchers and government officials to discuss the challenges Kenyans are facing. One of these challenges involves water management and technology.

In Kenya there is a seasonal pattern of precipitation. There are two precipitation seasons and one drought season. This pattern makes water a little more difficult to manage for agricultural purposes. Sayde says better irrigation and water management practices will help make the entire system resilient to seasonal conditions and climate change.

Sayde says there are three components to transform Kenya’s current water management practices. The first component is using water resources more efficiently. He says this aspect involves “using what is available and trying to improve the actual system, such as capturing and reusing runoff water.”

Sayde’s second component is improving the use of water saving technologies like irrigation systems. Implementing the appropriate technologies allows easy and efficient use for small-scale farmers.

The third is better water management practices.

“Even if you have the best tools and you have the water, it is useless if you don’t know how to manage it properly,” says Sayde.“That’s the bottom line: irrigation and water management are key components to making a resilient production system.”

Implementing these three components will help achieve the goals of the CREdO (Connecting Research, Education and Outreach) framework .

“We have to be effective, and we have to have a system approach,” says Sayde.

While on the trip, each CALS team member collaborated and worked with other representatives to create a plan for each agricultural and societal area. Sayde explains the team has to address the whole aspect of the supply chain, from production to consumption, in order to make a lasting impact. This initiative places an emphasis on solving challenges in sustainable ways.

This new and flourishing line of communication with representatives in Kenya will make future projects and collaborations easier. Sayde explains this partnership is important for NC State’s international relations.

“Representatives from Kenya are very selective in who they partner with, so the fact they chose us is a big deal,” he says. “CALS International Programs managed to break through a major barrier in communication.”

The team is looking to bring additional people with expertise to the project. Sayde says NC State faculty and students who are interested in international research should look into joining this strong network.

“The impact you make is immediate because you can see that it affects people’s lives directly,” he says. “It is very rewarding.”

Department of Biological and Agricultural Engineering

More From College of Agriculture and Life Sciences

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Engaging Youth in Agriculture, Both Near and Far

Kirby, Monks Named Interim Co-Directors of NC State Extension

Summer Academy Introduces Juntos Youth to CALS, STEM Careers

Announcing the Institute for Risk Management and Insurance Innovation

By Carleigh Gabryel

A message from Vice Chancellor for Research Penny Gordon-Larsen

Dear Colleagues,

I am excited to announce the launch of the Institute for Risk Management and Insurance Innovation (IRMII), a new institute within the Office of Vice Chancellor for Research. The institute will act as a research and innovation hub, bringing together investigators from multiple disciplines to address the financial risks arising from a growing number of threats to our state and beyond, ranging from extreme weather to cybersecurity. UNC-Chapel Hill is a world leader in translating extreme environmental events into financial risk and now seeks to expand into a wider range of emerging perils.

A major mission of IRMII will be to accelerate research on evaluating and managing risk. The institute will use this research as a platform for creating a pipeline of uniquely trained students ready to enter the risk management and insurance industry. IRMII will provide interdisciplinary training to doctoral and master’s students focused on industry challenges. The institute is also developing, in collaboration with its industry partners, an undergraduate minor in risk management that will focus on preparing students to use cutting-edge modeling and data science techniques to better understand society’s current and emerging risks.

The institute will receive significant support from industry, with over 25 firms having made financial commitments that will fund research and training activities. Industry partners will sit on IRMII’s Industry Advisory Board which will be chaired by Carolina alumnus Tony Ursano, who is a co-founding managing partner of the firm Insurance Advisory Partners.

IRMII will be led by Greg Characklis , W.R. Kenan Jr. Distinguished Professor in the Department of Environmental Sciences and Engineering within the Gillings School of Global Public Health. Characklis is also the founding director of the Center on Financial Risk in Environmental Systems (CoFiRES) which will be absorbed into the new institute and serve as a platform to facilitate IRMII’s rapid development.

IRMII will be a powerful force for new ideas and beneficial change for the risk management and insurance industry, with the ability to address real-world problems in a comprehensive manner. These efforts will help attract external funding to the University for this important work and will yield tangible benefits for the citizens of North Carolina. As such, IRMII has the full support of the UNC-CH Board of Trustees (BOT), with BOT Chair John Preyer citing it as an example of “a program that both expands knowledge and prepares our students to be strong contributors to the 21 st century workforce.”

Please join me in celebrating the launch of our new institute and congratulating Greg on this new endeavor.

PRESS RELEASE:

Informative Research Unveils Enhancements to Its Suite of Mortgage Portfolio Monitoring Alerts

Source: Informative Research | Wed, 14 Aug 2024, 07:00:55 EDT

GARDEN GROVE, Calif., Aug. 14, 2024 (SEND2PRESS NEWSWIRE) — Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, announced the launch of new alert types to enhance the portfolio monitoring service offered by Informative Research Data Solutions. These advanced alerts offer sophisticated monitoring capabilities, enrich lenders’ portfolio monitoring and borrower engagement strategies and solidify Informative Research as a data solutions leader in the mortgage industry.

“Fast and accurate information is power in today’s market, especially when it comes to borrower retention,” said Informative Research EVP Shannon Santos. “These new alert types are innovative, time sensitive and highly adaptable, offering significant value to our clients by empowering them to proactively engage with borrowers and recapture as much of their existing business as possible.”

One of the most significant additions is the PMI removal alert, which notifies the lender when their borrower’s equity position reaches the appropriate level to eliminate PMI and ultimately reduce the borrower’s monthly mortgage payment.

Other newly introduced alert types include:

Rate watch, which notifies when the rate changes by a specified threshold;
Early payoff warning;
Equity watch alerts for changes in a borrower’s equity position; and
MLS alerts for properties listed as active on the MLS.

The new alerts can be seamlessly integrated into existing systems for daily updates to loan officers, allowing for proactive outreach to existing borrowers. Informative Research’s advanced suppression logic ensures a seamless borrower experience by preventing duplicate alerts.

“In light of recent regulatory changes and market demands, Informative Research’s introduction of these new alert types represents a significant advancement in mortgage portfolio monitoring technology,” Santos added. “As a leader in data products, Informative Research continues to set the standard in the industry, enabling our clients to stay ahead of the curve and maintain a competitive edge.”

These enhancements are aligned with the four key pillars of Informative Research Data Solutions: Customer Acquisition, Risk and Retention, Upsell/Cross-sell and Custom Data Analytics. This strategic focus underscores Informative Research Data Solutions’ commitment to excellence and leadership in the data solution space. It ensures that lenders can effectively attract new customers, manage risk, retain existing clients and utilize data analytics for upselling and cross-selling opportunities, thereby driving growth and innovation.

About Informative Research

Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://www.informativeresearch.com .

News Source: Informative Research

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LEGAL NOTICE AND TERMS OF USE: The content of the above press release was provided by the “news source” Informative Research or authorized agency, who is solely responsible for its accuracy. Send2Press® is the originating wire service for this story and content is Copr. © Informative Research with newswire version Copr. © 2024 Send2Press (a service of Neotrope). All trademarks acknowledged. Information is believed accurate, as provided by news source or authorized agency, however is not guaranteed, and you assume all risk for use of any information found herein/hereupon.

Rights granted for reproduction by any legitimate news organization (or blog, or syndicator). However, if news is cloned/scraped verbatim, then original attribution must be maintained with link back to this page as “original syndication source.” Resale of this content for commercial purposes is prohibited without a license. Reproduction on any site selling a competitive service is also prohibited. This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License .

Story Reads as of 2024-08-14 10:34:20: 259 views

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REFERENCES: Mortgage News, Informative Research, fintech, digital mortgage, borrower retention, risk management | ID: S2P120322

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The Influence of Fraud Risk Management on Fraud Occurrence in Kenyan listed Companies

January 2021
International Journal of Finance & Banking Studies (2147-4486) 9(4):2020
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Cooperative University of Kenya

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Health in Kenya Risk Analysis
(PDF) EFFECTS OF FOREIGN EXCHANGE RISK MANAGEMENT TECHNIQUES ON
(PDF) Effect of Risk Management on Corporate Governance in Savings and
Kenya Health Sector Disaster Risk Management Strategic Plan 2014-2018
Enterprise Risk Management Practices in Kenya
(PDF) Interest Rate Risk Management for Commercial Banks in Kenya

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IRM (K)
The Institute conduct research on potential of risk management as a critical business driver and ingredient of sustainable growth and long-term competitive advantage regionally. ... Follow IRM @IRM_KENYA Tweets by IRM_KENYA. Search Our Site. Latest Post. Your IRM Membership Account October 8, 2017;
About IRM Kenya
The Institute of Risk Management Kenya. The Institute of Risk Management Kenya (IRM-K) is a non - profit professional, education and research Institution established and registered in Kenya to answer the growing need for risk management education in Kenya and wider Sub-Saharan (SSE) region. Founded in 2011, The Institute of Risk Management ...
Enterprise Risk Management Practices in Kenya
Abstract. Enterprise Risk Management (ERM) is a structured and coordinated approach for identifying, assessing, and managing risks faced by an organization. Implementing ERM standards and ...
PDF Risk Management Practices and Performance of Projects in Nairobi City
RISK MANAGEMENT PRACTICES AND PERFORMANCE OF PROJECTS IN ... PETER GITAU NJUGUNA D53/OL/CTY/26701/2014 A RESEARCH PROJECT SUBMITTED TO THE SCHOOL OF BUSINESS IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE IN MASTER OF BUSINESS ADMINISTRATION (PROJECT ... Kenya as a risk management practice and it has enhanced project ...
PDF Risk Management Practices and Performance of Insurance Companies in Kenya
The performance of insurers in Kenya has remained resilient despite several risks. In 2019, the companies recorded KES 229.50 billion in gross premiums translating to a nominal growth of 6.1% (0.9% in real terms). In 2019, Kenya was ranked third in Africa in gross premium income after South Africa and Morocco.
PDF Risk Management Practices and Implementation Challenges at Kenya
te in-depth understanding of the risk management practices and implementation challenges at KenGen. The use of case study methodology ensures th. t the topic of interest is well explored and the essence of the phenomenon is revealed (Yin, 2003). Case study also enables the researcher to gather.
Risk management and financial performance of insurance firms in Kenya
The descriptive results of risk management and financial performance are presented in Table 2. The results show that the return on assets was between −4.71 and 5.96 with a mean of 1.66. This implied that the majority of the insurance firms in Kenya registered positive returns. Credit risk was between.
Risk management and financial performance of insurance firms in Kenya
This study examined the relationship between risk management and the financial performance of insurance firms in Kenya over the period 2013-2020. The data was collected from 51 Insurance firms licensed to operate in Kenya as of 31 December 2020. Regression analysis was used and the results showed that risk management significantly affects the ...
PDF THE INSTITUTE OF RISK MANAGEMENT
1.0INTRODUCTION. The Institute of Risk Management is a not-for-profit professional education and research institution established in Kenya, to answer the growing need for risk management, research and professional education in Kenya and wider Sub Saharan Africa. Mission. We achieve this by promoting organizational effectiveness, professional ...
PDF Influence of Risk Analysis as a Risk Management Practice on Project
research by providing statistical data analysis and explanations on the IT project performance in relation to risk analysis influence in commercial banks in Kenya. Keywords: Risk management, Risk Analysis, Project Performance. 1. Introduction The success or failure of IT projects has piqued scholars' curiosity throughout the last two
(PDF) The Influence of Enterprise Risk Management Practices on
The main purpose of the study was to determine enterprise risk management effect on organizational performance of state corporations in Kenya. This study was guided by agency theory. The study ...
PDF Risk Management Strategies and Performance of Commercial Banks in Kenya
This affirms that the model was a reliable estimator of bank performance. The coefficient of determination (R2) 0.502 value implied that 50.2 % of performance of commercial banks is attributed to risk management strategies namely risk acceptance, risk transfer, risk reduction and risk avoidance. A unit change in risk acceptance was found to ...
(PDF) INFLUENCE OF PROCUREMENT RISK MANAGEMENT ON ...
Kamoni et al. (2018) aimed to analyze the effect of procurement risk management on the success of largescale energy projects in Kenya. The research included a tally of all 47 megaprojects in the ...
PDF Republic of Kenya National Disaster Risk Management Policy 2017
tegies for addressing disaster risks in a comprehensive manner. To respond to this challenge, the Government of Kenya, with the support of development and Humanitarian pa. tners, has developed this Disaster Risk Management (DR) Policy.This DRM Policy outlines the need for the establishment, streamlining, and strengthening of DRM institutions, c.
Enterprise Risk Management Practices in Kenya
The company's risk management practices include ERM, risk assessment, operational risk management, business continuity planning, and compliance management (Otera, 2020). 5.2. Equity Bank Holdings Kenya. Equity Bank Holdings Kenya is a financial services company that provides banking and financial solutions.
Enterprise Risk Management Practices in Kenya
Enterprise Risk Management Practices in Kenya. S. Chege, G. Wanyembi, C. Nyamboga. Published in Journal of International… 1 April 2023. Business, Economics. Enterprise Risk Management (ERM) is a structured and coordinated approach for identifying, assessing, and managing risks faced by an organization. Implementing ERM standards and ...
PDF Risk Management Practices and Performance of Real Estate Construction
(0.451). Operation risk management practices had (0.313), market risk management practices (0.531), and financial risk management practices (0.273). Diagnostic test including multi-collinearity were conducted and this study found the data had no collinearity as shown by (VIF<10) for all variables.
Sustainability
As disasters and climate change risks, particularly droughts and floods, continue to affect food security globally, most governments, including South Africa, have resorted to the use of technology to incorporate climate change adaptation and disaster risk reduction to address FS issues. This is because most institutions and policies that address climate change adaptation, disaster risk ...
(PDF) Supplier Risk Management Practices and Performance ...
The focal point of this study was the examination of supplier risk management practices and their influence on the performance of supply chains within the healthcare sector in Kenya.
Federal Crop Insurance Corporation (FCIC)
FCIC is a wholly owned government corporation that administers the Federal crop insurance program.The Federal Crop Insurance Corporation (FCIC) promotes the economic stability of agriculture through a sound system of crop insurance and providing the means for the research and experience helpful in devising and establishing such insurance.
Strategic risk management practices among state corporations in Kenya
The study was to benefit the public sector in Kenya in developing and improving their strategic risk management practices. Additionally, scholars, academicians and researchers in various aspects of strategic management and other stakeholders may be able to gain from the enterprise-wide approach to risk management recommended by this study.
Kenya: Unidentified gunmen ambush transport truck in Marsabit County
Unidentified gunmen ambush truck traveling in Marsabit County, Kenya, late Aug. 12, killing at least seven people. Further attacks possible. ... The World's Most Comprehensive Global Security and Risk Management Platform. Learn more. Analysis. Webinar Israel Hamas conflict. Managing Risk in The Wake of the Israel Conflict Webinar
Collaborating for a Sustainable Kenya
This new and flourishing line of communication with representatives in Kenya will make future projects and collaborations easier. Sayde explains this partnership is important for NC State's international relations. "Representatives from Kenya are very selective in who they partner with, so the fact they chose us is a big deal," he says.
Announcing the Institute for Risk Management and Insurance Innovation
A major mission of IRMII will be to accelerate research on evaluating and managing risk. The institute will use this research as a platform for creating a pipeline of uniquely trained students ready to enter the risk management and insurance industry. ... an undergraduate minor in risk management that will focus on preparing students to use ...
Informative Research Unveils Enhancements to Its Suite of Mortgage
GARDEN GROVE, Calif., Aug. 14, 2024 (SEND2PRESS NEWSWIRE) -- Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, announced the launch ...
Surveillance Resource Center
Overview. This resource allows the surveillance community to easily access and share useful methods, tools, legal, ethical and regulatory guidance for improving the practice of surveillance and serve as a web-based knowledge management system that would:
PDF Corporate Governance, Risk Management, Firm Characteristics and
corporate governance, risk management, firm characteristics and financial performance of commercial banks in kenya by ondigo herick ochieng d80/8526/2003
Search Jobs
Job interest Research. Job title Analyst (German speaking) - McKinsey Solutions, Finalta Insurance. Job description You will work within a small project team to analyze data, evaluate results, generate actionable insights and recommendations and deliver these to your clients. In this role, you will be given high levels of responsibility from the start, liaising...
(PDF) The Influence of Fraud Risk Management on Fraud Occurrence in
Corresponding author: Strathmore Business School, Strathmore University, Nairobi, Kenya. +254- 725-596-365. ORCID ID: 0000-0002-0914-0339. Strathmore Business School, Strathmore University ...
Resources
The IUCN Global Ecosystem Typology is a comprehensive classification framework for Earth's ecosystems that integrates their functional and compositional features. This new typology helps identify the ecosystems that are most critical for biodiversity conservation, research, management and human wellbeing into the future.

Enterprise Risk Management Practices in Kenya

Suggested articles

1. Introduction

2. Problem Statement

3. Literature Review

3.2. NIST Risk Management Framework (RMF)

3.3. COSO ERM

3.4. Organizational Resilience

3.5. Corporate Governance

3.6. The World Economic Forum (WEF) Global Risks Report

4. Methodology

5. Case Studies

5.2. Equity Bank Holdings Kenya

5.3. KCB Bank Group

5.4. Co-operative Bank of Kenya

5.5. Stanbic Bank of Kenya

5.6. ICEA LION Kenya

5.7. CIC group

5.8. BRITAM

6. Conclusion

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43 References

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1. Introduction

4.1.4. Incorporation of DRR Measures into the Project

4.1.5. Challenges and Opportunities

4.2. Urban Agricultural Initiative (UAI) Food Security Project Using Hydroponics Technology

4.2.4. Incorporation of DRR Measures into the Project

4.2.5. Challenges and Opportunities

5. Discussion and Conclusions

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The Influence of Fraud Risk Management on Fraud Occurrence in Kenyan listed Companies

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