ABSTRACT: The project work examine the potential usefulness of adopting a systematic methodology for the analysis and control of quit within the financial services sector and discuss the resulting information processing requirements. Two types of financial intermediaries (banks and insurance companies) are specifically examined from a total system frame work, but the resulting insight is extend to other financial institutions. The point is made, that given the current wave of de-regulation in Nigeria, economy especially in the banking sector and the rapid process technological and marketing glufts which have resulted, financial institutions are being forced to rely more on managerial competencies and other intra-organisation factors for survival and success and it is suggested that effective risk analysis and control technologies should be an integral aspect of any sensible corporate plan in these institution. This project is patterned into five distinct chapters. Chapter one deals with introduction of the topic, statement of problem, scope, limitation and research question while chapter two emphasize on the researcher’s reviews and related literature on risk management to business organisation. The third chapter highlights the methodology of the research. It stresses the design plan, method of data collection. Finally, the last chapter (chapter five) summarized the entire work by inserting possible findings recommendations and conclusion.
TABLE OF CONTENTS
CHAPTER ONE
1.0 Introduction 1
CHAPTER TWO
2.0 Literature review 6
CHAPTER THREE
3.0 Research design and methodology 31
3.1 Design 31
CHAPTER FOUR
4.0 Data presentation and analysis 37
CHAPTER FIVE
5.0 Findings, recommendation and conclusion 47
Reference 51
Questionnaires 53
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Financial institutions, organizations both private and public operation in the world of uncertainties. The uncertainty of environment in which organizations operate has led some management experts to fashion out a management they called “Risk management to reduce the uncertainty that face them. Business organizations are set up for a particular aim(s) and strive to achieve them. But the uncertainty of the objective is very difficult task to accomplish. Because risks or uncertainty are a permanent feature that affect any business organization. Management is expected to continuously monitor and manage those risk or uncertainty most effectively at a minimum cost been realized and accepted by most countries and some organizations among which are financial institutions which started to use the concept to minimize the losses facing them in order to achieve the organizations objective.
Risk according to Oxford advanced learner’s dictionary means the possibility of meeting damper or do suffering harm or loss. This means that it is the uncertainty of financial loss in the concept of this study.
According to L.J. Nuldram (195) risk management is d
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