It is estimated that a comprehensive corporate risk management strategy will be achieved over a three year period.

The Ministers of Public Health should ratify the priority nature of the issue and adopt the new concept of risk management

Budgetary spending can be sustained through the price cycle when there is an effective risk management system in place.

Another delegation referred to the need to set up risk management systems, so as to prevent the spread of financial crisis and economic instability.

Furthermore, why do small banks, which have no implicit backing from the government, also have so much leverage?

Because that is the biggest risk in a large company, but we had no processes to manage the customer risk.

In collaboration with the UNHCR e Centre in Japan, for example, the Office had introduced risk management tools which assisted colleagues to weigh operational needs against potential security risks.

On the other hand, at UNDOF the lack of spare parts at one camp resulted in vehicle maintenance not being performed, causing several vehicles to be in an unusable condition.

The aggressive and comprehensive intervention that Keynesians claimed was needed to manage aggregate demand, and that Minskyites claimed was needed to manage financial risk, was entirely unwarranted.

The safety and security of personnel working in peacekeeping operations will be accorded the highest priority, and to that end appropriate attention, both at Headquarters and in the field, will be given to information management, security assessment and risk and threat analysis.

Has the Libyan Arab Jamahiriya's Customs Service implemented intelligence based risk management on its borders to identify high risk goods? Please outline the kind of information and data required by Customs Administrations to identify high risk consignment prior to shipment.

In paragraph 294, the Board recommended that UNICEF implement a comprehensive risk management framework to enhance its governance and management control processes.

In paragraph 219 of the report, UNDP agreed with the Board's recommendation that it establish mechanisms needed to manage risk in terms of best practices.

In paragraph 53, UNHCR agreed with the Board's recommendation that it ensure that risk management is correctly performed and to compile information essential for efficient cash management.

Given the role internal audit should play in evaluating and improving risk management and control systems the UNHCR Audit Service embarked, in late 2004, on a risk management pilot project.

In paragraph 216 of the report, UNDP agreed with the Board's recommendation that it (a) evaluate establishing a risk management function responsible for implementing a risk management strategy at UNDP and (b) conduct a comprehensive risk assessment exercise.

Each audit report includes risk management ratings that summarize OIA's view of the quality of an office's risk management practices in each of the audited areas. Unsatisfactory ratings do not indicate a supposition of fraud or loss of UNICEF resources.

The establishment of a national disaster management plan was essential in order to provide a reference framework for all the agencies participating in risk management.

And, finally, given powerful interactions within the financial sector and across the broader economy, we need an overarching framework to manage risks in the financial system as a whole.

During the reporting period, UNHCR's Audit Service had embarked on a risk management pilot project in collaboration with PricewaterhouseCoopers which aimed to develop a culture of risk awareness and active risk management within the Office.

Commodity exporters in developing countries should be given market access and helped to develop risk management strategies and flexible compensatory schemes.

Pitfalls

Now financial risks are deemed to be sufficiently important for macroeconomic management to warrant regulatory arrangements going beyond that of the microprudential supervisor.

According to the FAA wildlife hazard management manual for 2005, less than 8 of strikes occur above and 61 occur at less than 30 m (100 ft).

Key initiatives in the pipeline include the multi layered approach to formalizing risk management in UNDP as part of its organizational culture in 2006 (paragraph 54).

For other phases of risk management, frameworks such as the Respond initiative of GMES were being developed and would increasingly be made available to developing countries.

Threats to deep sea biodiversity from mineral prospecting, mineral exploration or mineral exploitation in the Area need to be managed in such a way as to prevent species extinctions.

Although the Department of Peacekeeping Operations field security does not have the task of suppressing or preventing international terrorism, it has the function of mitigating the risk associated with it.

In essence, the SOLAS chapter XI 2 and the ISPS Code take the approach that ensuring the security of ships and port facilities is basically a risk management activity and in order to determine what security measures are appropriate, an assessment of the risks must be made in each particular case.

My compliments to the boys in the code department.

Let banks design their own risk management systems, audit them to the limited extent possible, and then severely punish them if they produce a loss outside agreed parameters.

The underlying problem, though, is that both regulators and bankers continue to rely on mathematical models that promise more than they can deliver for managing financial risks.

In partnership with the Health and Community Services Boards, the Department of Health and Community Services developed a risk management system to be used throughout the province with children in need of protective intervention and with their families.

So what are the risks?

The Risk Tsunami

Risks

Hazard pay

(United States dollars)

The risk is immense.

Unfortunately, the G 20 communiqué offers only more of the same prescriptions for managing systemic risk that the Financial Stability Forum (FSF), the United States Federal Reserve, and others have put forward.

They must develop a cadre of professionals with a sophisticated understanding of risk management, and must work to educate their members in the financial subtleties of their specific circumstances.

The Fund currently assists producers to mitigate price fluctuations through market based price risk management instruments, in close cooperation with the World Bank and other cooperating institutions.

Significantly, a draft risk management tool had been drafted that proposed a series of questions for business, drawing on international standards, including the Voluntary Principles.

General description These two Programmes are presented jointly, since they share a common objective, outcomes, performance indicators and outputs.

(a) The International Federation of Purchasing and Materials Management had changed its name to International Federation of Purchasing and Supply Management