Reference no: EM132904019

The following are some examples of potential risks for a Bank. You are an expert in risk management and was employed by the Bank's top management to provide mitigation strategies and/or plans to reduce the impact of loss.

For each case, you may have various options, provide three mitigation plans per case.

1. Resignation of the key person in the company.

2. Inability of the outsourcing provider for armored vehicles to deploy its trucks due to a strike of its employees.

3. Entrance of a strong competitor Bank that may decrease Income and market share. One Bank Teller in the Branch incurs frequent discrepancies in her cash accountabilities, booked to Cash Overages/Shortages while his supervisors are investigating the cause of the discrepancy.

4. Natural calamities like flood, storm and earthquake, in general.

5. The Main frame computer and back-up storage were destroyed by fire because they are installed in the same building.

6. The company is closed because of lockdown for 14 days, COVID-19 protocols due to ECQ.

7. A client claimed that her signature on the withdrawal slip for P500,000 was forged, demanded reimbursement from the Bank. The bank agreed for fear of bad publicity and tarnished image.

8. The PLDT server bogged down, the bank cannot go online leaving disgruntled clients waiting to be served.

9. Most employees undergoing a six-month company-provided training for officer position jump to the competitor bank a few months after completion of the training course.