Added Title

Documenting the validation of output of the risk & control self-assessment
Documenting the validation of output of the risk and control self-assessment

Date of Publication

9-2020

Document Type

Master's Thesis

Degree Name

Master of Business Administration

Subject Categories

Business Administration, Management, and Operations

College

Ramon V. Del Rosario College of Business

Department/Unit

Management and Organization

Thesis Adviser

Benito L. Teehankee

Defense Panel Chair

Maria Paquita Bonnet

Defense Panel Member

Mary Margaret Que
Jaime Cempron

Abstract/Summary

This action research is focused on documenting the conduct of validation activity for the risk assessment tool, which is the risk & control self-assessment (RCSA). The primary objective is to comply with the requirements of the banking regulators. Furthermore, this paper aims to strengthen the relationship of risk management team with the business units by constant communication through the discussion of various risk issues and concerns and to enhance level of risk awareness, responsibility and accountability within business units.

The first cycle involves identification of data needed in the validation and development of validation template. Each data was then assessed and categorized based on whether as outstanding findings, closed findings or repeat findings.

The second cycle includes collecting of data identified from independent offices. Data were classified into risk events and by causes of risk. There are seven (7) risk events: internal fraud; external fraud; execution delivery & process management; employment practices and workplace safety; clients, products & business practices; business disruption and system failure; damage to physical assets. Also, causes of risk include: people, process, system and external events. Cycle 1 of this action research revealed that knowledge gap is evident within the team. Classroom training sessions and coaching were then conducted in the second cycle to address the issue.

In the end, this action research successfully documented the validation of the output of for the RCSA

Abstract Format

html

Language

English

Format

Electronic

Keywords

Risk assessment

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Embargo Period

5-27-2022

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