Risk management: The importance of staff disclaimers

For more on this topic, go to www.dentaleconomics.com and search using the following key words: sexual harassment, risk management, Civil Rights Commission, OSHA, informed consent, staff disclaimers, Dr. Duane A. Schmidt.

The morning paper was uneventful except for one small, front page item above the fold, what newspaper editors term a “hot” story. The headline read, “Local dentist charged with sexual harassment.” It held serious implications for only one person: the involved dentist ... and I read in stunned silence that it was me!

This story could have happened in any dental office in America. It revolved around a chairside assistant who had been in my employ for eight months. Despite her demonstrated great chairside skills, Melinda could not work well with her teammates. I learned that one bad apple can indeed spoil the barrel, and Melinda had to go. Via: www.dentistryiq.com

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Proposed Corporate Regs Are Long on Risk Management, Short on Structure

By Heather Anderson

The NCUA’s proposed corporate regulations, released Nov. 19, didn’t contain many surprises, as board members and staff had already discussed many of the amendments with industry leaders and in public arenas beforehand.
The document contains few structural mandates. Instead, regulators have introduced stronger capital requirements and risk management measurements that could impact operational strategies.
NCUA Director of Public and Regulatory Affairs John McKechnie agreed that the proposed rule changes were primarily aimed at improving risk management, particularly as it relates to investment products and strategies that have emerged in markets since the last time corporate regulations were updated.
“We wrote the new safeguards and standards to not only address past problems, but hopefully keep corporates ahead of future problems, too.” Via: www.cutimes.com

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Dubai debt crisis sounds new alarm for tightening risk management

BEIJING, Nov. 29 (Xinhua) -- Global investors are now on pins and needles again after the breakout of the Dubai debt crisis, even though their confidence is being restored with the gradual recovery of the world's ailing economy.

Dubai World, one of Dubai's largest and most important conglomerates, on Wednesday asked for a delay in repaying some of the 60 billion U.S. dollars it owes to creditors, causing panic and concerns across the world.

A year ago, the collapse of Lehman Brothers led to a financial crisis on the global scale, leaving the world with painful lessons to learn about the importance of risk management.

The latest Dubai crisis, which took place in the commercial, trading and financial center of the Gulf area, once again highlighted the urgency of crisis-combating and the all-along importance of risk regulation in global economic decisions.

Debt financing is a key pattern of financial leverage in modern economic operations. In the mean time, the judgement and measurement of risks are pivotal to determining the ratio of a leverage. A high leverage ratio may help augment profits under favorable market conditions, while it can also be destructive in an adverse economic environment. Via: news.xinhuanet.com

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ISO 31000 will be more helpful in supporting corporate governance

KUALA LUMPUR: The new global standard for risk management, ISO 31000, will be more helpful in supporting corporate governance for risk management among companies and enterprises, most of which have adopted the current standard of risk management, AS/NZS 4360: 2004 (Standards Australia/New Zealand approach).

Risk management standards expert Kevin Knight said ISO 31000 was a more concise, clear and flexible set of guidelines developed for risk management.

Ideas to conceptualise it started in 2004 when six meetings were held among 30 countries of ISO Meeting Group to come out with better standard of guidelines.
“ISO 31000 is more focused on the process of risk management in companies and enterprises.

“By this, it gives more direction to the organisation on managing the uncertainty or risks that may happen,” he told StarBiz.

Knight chairs the World ISO working group developing the new ISO 31000 risk management standards. Via: biz.thestar.com.my

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