LSBM302 Corporate Risk Management
- Assessment 1 Details
A review of Corporate Risk Failure - AIB/Allfirst (2002)
Banking failures due to weaknesses in risk management were exposed by the Global Financial Crisis in 2007-08. However, cases before this are informative as they highlight the importance of learning from business history and applying a critical perspective to continuing failures.
In 2002 John Rusnak, a "lone wolf" currency trader at Allfirst, racked up losses of almost US$700 million. It was Ireland's biggest banking scandal, and the fourth-biggest banking scandal in the world, at the time when it came to light. External advisors, law firm Wachtell, Lipton, Rosen & Katz reviewed the Allfirst treasury operation and produced a report (better known as the Ludwig report) providing advice to the boards of Allfirst and its parent, Allied Irish Banks (AIB).
You are given this report and three additional case studies on AIB/Allfirst, highlighting different perspectives: corporate governance, e-risk and financial risk.
You are required to:
- Produce an assessment of the AIB/Allfirst failure with specific reference to its risk management
- Draw on the evidence provided (the report and 3 case studies)
- Ensure that you draw directly on the course and the teaching of each week to apply a corporate risk management perspective.
- Use appropriate models, frameworks and example.
- Use a range of academic sources for your report.
- Use Harvard referencing throughout for your citations and the reference list.
- Focus on analysis from the perspective of (a) Assessment of risk, (b) Risk response and (c) Risk governance and regulatory risk.
The assessment should be in the form of a report with the following structure:
Provide an overview of:
- The AIB/Allfirst failure
- A summary of the key reasons why Allfirst failed – based on the literature.
- Assessment of risk
- Identify key risks and
- Classify these risks into categories - use recognised frameworks and models.
- Risk response
- Review how AIB/Allfirst responded to its risk exposure and/or
- Identify any gaps and shortfalls in its approach by critically applying models and frameworks designed to measure and model different business risks
- Highlight any relevant aspects of Risk governance and regulatory risk
- Findings and conclusions
- Summarise the key points that explain why and how AIB/Allfirst failed from a risk management perspective
- Analyse, synthesise and evaluate the data to establish solutions
- Make recommendations to minimise the possibility of such failures happening in the future.
5.2 Submission requirements
You are required to submit this assignment by Friday/09 March 2018/3pm. You must submit your assignment by using the Turnitin gateway in the module’s Canvas site.
Please Note: The act of submitting your work electronically will be taken as an acceptance of the Declaration of Authorship (see Appendix 2).
- Extensions and Mitigating Circumstances
Applications for extensions and mitigating circumstances, with supporting evidence (such as medical certificates), should be made through the Student Self-service Portal (SSP).
If a student experiences unforeseen circumstances that may prevent the student submitting an assignment at the first opportunity, it is possible to request an extension of up to two weeks. The length of extension requested will be evaluated by the Academic Administrator.More info →
LSBM302 AB1 Ludwig Report on Allied Irish Bank Currency
This report is submitted by Promontory Financial Group LLC and the law firm of Wachtell, Lipton, Rosen & Katz to advise the Boards of Directors of Allied Irish Banks, p.l.c. (“AIB”), Allfirst Financial Inc., and Allfirst Bank with respect to losses sustained by Allfirst Financial Inc. and Allfirst Bank (together “Allfirst”) in foreign exchange trading. The purpose of this report is to advise the Boards in connection with the questions that they have referred to us for our review and advice and it is not intended to represent the definitive report on the matters set forth herein. This report should be regarded as preliminary, because significant leads remain to be pursued. Indeed, the person primarily responsible for these losses, John M. Rusnak, has thus far refused to speak with us, and we have not had an opportunity to talk to the foreign currency traders with whom Mr. Rusnak dealt.
Our inquiry was authorized by the AIB Board of Directors on February 8, 2002. Thus far, we have interviewed approximately 55 present and former employees of AIB and Allfirst and have reviewed a substantial volume of electronic records and thousands of pages of printed documents. Given the complexity of the matter and the volume of materials to be reviewed, however, our interviews and review of the electronic and documentary record are not complete. We have emphasized from the outset that we believed that 30 days was inadequate to render a comprehensive report. Nevertheless, we understand the Boards’ need for timely guidance. Therefore, our work to date has focused primarily on the Allfirst treasury operation and, as this report reflects, we have drawn conclusions in that regard. Although we have confidence in our preliminary conclusions, it is likely that further inquiry will uncover additional material information or provide further clarification and insight into those events and practices of which we are aware.More info →
NRSG257 Case Study Assignment Help
Choose one (1) of the case studies below. Your Assessment will be written in academic essay format with an introduction, body and conclusion according to APA Guidelines.
Using evidence specific to your chosen case study, address the following two (2) points:
Describe the pathophysiology of the presenting complaint in the case study. (300-500 words)
Evaluation of the nurse’s role to deliver developmentally appropriate nursing care in relation to your chosen case study. Address:
growth and developmental theories,
family centred care and,
the effects of hospitalisation of the child, on the child and family. (1100-1300 words)
Case Study 1
Anne is a 10 year old girl who has presented to the emergency department in the local hospital with right iliac fossa pain. On further assessment by the emergency registrar, appendicitis is suspected.
The surgical team agree that the signs and symptoms are associated with appendicitis and take Anne to theatre for an appendectomy.
The handover on return to the ward is that the surgical team found a gangrenous perforated appendix with peritonitis. Anne has returned to the ward with a nasogastric tube in situ on free drainage, morphine PCA, IV therapy and triple IV antibiotics.
Due to the severity of the infection and the potential compliacations, Anne will need to remain in hospital for 10 days of IV antibiotics and pain management.
Anne is the oldest of five children and her parents own and run an Indian restaurant in the city.More info →
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