Risk Management in International Banking, Insurance and Finance

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LVC RISK MANAGEMENT FRAMEWORK

Introduction

This research paper investigates the value and effectiveness of LV’s risk management framework by looking at theoretical vale of LV’s risk management, the effectiveness of LV’s risk management, and adequacy of the risk management activities.

Theoretical Value of LV’s Risk Management Activities

Organisations take risk from time to time, but what is important is how organisations manage risk. Risk management depends on the organisation’s risk appetite and management framework (Bartram, 2004). According to Arena and Arnaboldi (2014), enterprise risk management may be advantageous to an organisation, but at the same time poses different nature of risks to the organisation.  The impact risk management has on organisation depends on how it is implemented (Aebi, Sabato, & Schmid, 2012).

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Description

Risk Management in International Banking, Insurance and Finance

ACF308

Risk Management in International Banking, Insurance and Finance

Assignment Information

Module Leader: Dr Simon Ashby ( simon.ashby@plymouth.ac.uk )
Assignment 1 accounts for 50% of the total marks available for the module.
Assignment 2 accounts for the remaining 50%.
All assignments must comply with the format and submission instructions below.
Please read these instructions very carefully.

Assignment 1
Provide a critical review of the current risk management activities of Liverpool
Victoria (LV) Group. In this review consider the following:
the theoretical value of their risk management activities;
the effectiveness of their enterprise risk management and risk appetite frameworks;
and
whether their corporate governance arrangements adequately support their risk
management activities.

Formative
Deadline
(Optional)

E-mail (to Module Leader) a PowerPoint
presentation summarising the structure
and literature you intend to use to
complete your assignment and your
main arguments and conclusions.

12:00 (noon)
Friday 8 th March 2019

Summative
Deadline
(Compulsory)

Submit written assignment of 2,500
(+10%) words.

12:00 (noon)
Wednesday 27 th
March 2019

Please note that the formative deadline is your opportunity for formative feedback.
The module leader will not provide formative feedback after the 8 th March for
Assignment 1. Only one opportunity for formative feedback per assignment is
available to each student.

Tips for Assignment 1
The best sources of information on LV’s risk management activities are:
The latest Annual Report (this is the 2017 year-end report).
The latest Solvency and Financial Condition Report (again for 2017).
You can simply Google these reports, or find them via the LV Company Information
site: https://www.lv.com/about-us/company-information . For the SFCR look under
Financial and Investor Relations and then Regulatory Returns. Risk Management in International Banking, Insurance and Finance.

Annual reports and other regulatory returns contain a large amount of information on
risk management, so you will have plenty to base your analysis on. But take care not
to lose focus. You must only discuss the tasks indicated in the question. Download
the documents as PDFs and use the search feature to help you find relevant
information on LV’s risk management practice.

You will need to supplement this primary research with extensive reading from the
relevant academic literature (on the ‘value of corporate risk management’, ‘risk
appetite’, ‘enterprise risk management’ and ‘corporate governance and risk
management’). To complete this task, you should use the reading recommended in
class – this will ensure that you use good quality sources.

When answering this question high marks will be achieved where you can apply the
relevant academic theory to LV’s practice. Plus, it cannot be emphasised enough
that your focus must be on the three question tasks only. It is not about the specific
risks that they are exposed to or how these risks are managed. Do not fall into the
trap of providing a descriptive overview of LV’s risk profile and risk mitigation tools. If
you do, you will fail.

General tips for completing successful assignments
Ensure you remain focused on the question – do not try to change the scope or
emphasis of the question or provide any unnecessary background, such as
information about the general activities of LV or your chosen bank. Remember also

that definitions are NOT required, unless they are asked for (and none have been
requested).
Ensure you answer all question tasks.
The recommended reading provided in the relevant lectures and tutorials for the two
questions should be used. This will guarantee that you use good quality sources and
help to focus your work on the relevant issues.
Do not discuss any organisation other than LV in Assignment 1 and your chosen
bank in Assignment 2. The only examples you can use to illustrate the points you
make should come from LV in Assignment 1 and your chosen bank in Assignment 2.
Except for the relevant company reports and regulatory returns, use academic
sources only. This means articles from refereed journals and good quality text books.
Poor quality web sources like Wikipedia are not acceptable and their use will lose
you marks. Please contact the Module Leader or Paul Harrington if you require any
guidance on the appropriateness of any sources that you wish to use.
At the end of your work you should provide a list of references that you have cited in
your assignment. DO NOT include a list of resources that you have read but not
cited. Ensure that references are presented alphabetically using the family name of
the first author (in the UK this is the name that is spoken last, e.g. Simon Ashby).
References should be complete and in the Harvard style. This is explained in your
programme handbook. Amanda Southam, our subject librarian, or Paul Harrington
can provide further support on referencing. Risk Management in International Banking, Insurance and Finance.
Please DO NOT include any appendices. Provide all charts, tables and screenshots
in the main assignment. This makes it easier to link them to your written work
(assuming that you make this link clear).
When providing charts, screenshots, etc. be sure to number them and link them to
the points you are making in the main text. For example: Figure 1: Risk appetite
metrics, Figure 2: Adequacy of operational risk capital requirements, etc. and then
‘Figure 1 shows that LV uses a range of risk appetite metrics…’.
If you have any questions please do not hesitate to contact the Module Leader.
However please be aware that there may be a slight delay in response so DO NOT
leave questions until the last minute (this means less than a week prior to the
summative deadlines) as you are unlikely to get a response in time.

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LVC RISK MANAGEMENT FRAMEWORK

Introduction

This research paper investigates the value and effectiveness of LV’s risk management framework by looking at theoretical vale of LV’s risk management, the effectiveness of LV’s risk management, and adequacy of the risk management activities.

Theoretical Value of LV’s Risk Management Activities

Organisations take risk from time to time, but what is important is how organisations manage risk. Risk management depends on the organisation’s risk appetite and management framework (Bartram, 2004). According to Arena and Arnaboldi (2014), enterprise risk management may be advantageous to an organisation, but at the same time poses different nature of risks to the organisation.  The impact risk management has on organisation depends on how it is implemented (Aebi, Sabato, & Schmid, 2012). Risk Management in International Banking, Insurance and Finance.

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