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Unit 10: Risk Management

 Background screening solutions that include criminal data, national watch list feeds, identity Notes
verification, court records and driver histories, as well as a comprehensive research network
for in-person county court checks.

Risk Mitigation Solutions

Risk API: In today’s economy, we understand the challenges you face and know how important
it is for you to have reliable and user-friendly solutions to assist you in finding consumers.
InsightCollect: InsightCollect is a high quality tool used for collections, fraud management and
risk mitigation. This online tool combines an easy-to-use format with in-depth data and advanced
analytics, providing accurate, actionable information that can be used to locate and contact
individuals.

Task Answers the following questions
1. What is risk monitoring?
2. What are the steps of risk management cycle?

10.6 Practical Techniques in Risk Management

In risk management, one has to identify clearly the goal and timeline of any risk mitigation
planning, the “Exit Strategy.” The Exit Strategy takes into account:
(a) the probability of various outcomes,
(b) their associated costs and benefits,

(c) method of measuring and reporting on the progress (transparency),
(d) have built in contingency plans to work around potential problems that may occur, and
(e) have a clear and easily measurable action plan for achieving best possible outcome.
The previous administration completely bumbled in implementing the first half of the TARP.
There was no clear “Exit Strategy” for the $350 billion funding as the TARP did not did not have
a clear and easily measurable action plan, method of measuring progress, or even contingency
plans to work-around potential problems.
The complete ineptitude of the previous administration’s handling of the TARP was laid bare by
The Congressional Oversight Panel (COP) report, which came out a few days ago. The
Congressional Oversight Panel lambasted the previous administration’s shortsightedness of
purpose, poor planning, fumbled execution, lack of transparency, and bad deal making by
asking the Treasury in December 2008 the following 10 questions:
1. What is Treasury’s Strategy?

2. Is the Strategy Working to Stabilize Markets?
3. Is the Strategy Helping to Reduce Foreclosures?
4. What Have Financial Institutions Done With the Taxpayers’ Money Received So Far?
5. Is the Public Receiving a Fair Deal?

6. What is Treasury Doing to Help the American Family?
7. Is Treasury Imposing Reforms on Financial Institutions that are taking Taxpayer Money?

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