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  • Risk Management Plan

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    Crishelyn Umali
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    The risk management plan identifies key risks for BMPC in three areas: loans, operations, and management. For each risk, the plan assesses likelihood, outlines risk response strategies, and assigns responsibility for monitoring. Key risks include delinquent accounts, over-indebtedness of members, late reporting, loss of files, lack of qualified staff, accidents involving collectors, fraud, and insolvency. The plan was prepared by the cooperative manager and reviewed by the audit committee, board of directors, and risk management committee.

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    The risk management plan identifies key risks for BMPC in three areas: loans, operations, and management. For each risk, the plan assesses likelihood, outlines risk response strategies, and assigns responsibility for monitoring. Key risks include delinquent accounts, over-indebtedness of members, late reporting, loss of files, lack of qualified staff, accidents involving collectors, fraud, and insolvency. The plan was prepared by the cooperative manager and reviewed by the audit committee, board of directors, and risk management committee.

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    © All Rights Reserved
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    1 views4 pages

    Risk Management Plan

    Uploaded by

    Crishelyn Umali
    The risk management plan identifies key risks for BMPC in three areas: loans, operations, and management. For each risk, the plan assesses likelihood, outlines risk response strategies, and assigns responsibility for monitoring. Key risks include delinquent accounts, over-indebtedness of members, late reporting, loss of files, lack of qualified staff, accidents involving collectors, fraud, and insolvency. The plan was prepared by the cooperative manager and reviewed by the audit committee, board of directors, and risk management committee.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 4

    (BMPC)

    RISK MANAGEMENT PLAN


    BMPC RISK MANAGEMENT PLAN

    RISK CONTROL/
    TYPE OF RISK RISK IDENTIFIED RISK ASSESMENT RISK RESPONSE
    MONITORING
    LOANS Delinquent account Almost Certain Accounts and loan monitoring Review and monitor action
    (SERVICE/PRODUCT) constant follow-up plans and policy

    Right conduction of C.I. and approval

    Person Responsible:
    Strict implementation of policy Credit Committee,
    Over indebtedness Likely Probable Management,
    Board Of Directors

    OPERATION Late reporting Almost Certain Monitoring of transaction/operation Review and monitor action
    Updating of submission of reports plans and policy

    Proper filling/safe keeping


    Backup system Person Responsible:
    Misplaced/loss of Likely Probable Audit Committee,
    files/documents/data Management,

    RISK CONTROL/
    TYPE OF RISK RISK IDENTIFIED RISK ASSESMENT RISK RESPONSE
    MONITORING
    MANAGEMENT Lack of qualified man power Almost Certain Written Personnel policies Review and monitor action
    Recruitment/Promotion plans and policy

    Motivating employees through benefits


    and activities
    Collectors are prone in Person Responsible:
    accident Almost Certain Insurance/damayan fund Education and Training
    Ensure collectors have safety gears during Committee,
    official business Management,
    Board Of Directors

    FINANCE Fraud/theft/loss/ Likely Probable Strict monitoring in monetary transaction Review and monitor action
    tampering of OR Conduct audit (Internal and External) plans and policy

    Adoption of the imprest fund system on


    handling cash
    Falsification of financial Likely Probable Conduct audit (Internal and External)
    information
    Require assigned staff to submit regular
    Fund status report
    Budget preparation Person Responsible:
    Insolvency Likely Probable Audit Committee,
    Management,
    Board Of Directors

    As by reviewing the operation and activities of the cooperative and determining the risk that is rising
    and other possible risk that may encounter, Risk Management plan was done and reviewed and approved by
    the Risk management Committee.
    Prepared by:

    Cooperative Manager

    Reviewed and Approved by:

    Chairman of Audit and inventory Vice Chairman of Board of


    Committee Directors

    Chairman of Board of Directors

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