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The Dishes That Thai Restaurants Serve

Thai cuisines vary per meal and most of the time are interpreted wrongly a lot of them thinks that it is made of chilli sauces and curry. Many recipes have been using the four basic tastes like the salty, sour, sweet and hot, but some dishes doesn’t incorporate all the four basic tastes. The gastronomical journey of thai cuisine evolved due to their culture that is rich with heritage.

With the influence of its surrounding country, Thailand was able to develop an excellent cooking style that changes in every continent. Located in 1000 miles long this country has varying culture since the range is coming from a sub tropical seaside to the Himalayas with Laos, Cambodia, China as well as the Western Culture that all have been best in influencing the thai cuisine though they still maintain this one distinct feature.

Thai food is a balance and meals that are made lightly with the usage of various spices to gain harmony in versatile courses. There is a fish sauce that is known as namplaphrik this tastes salty and is clear fish sauce that is made through fermentation which gives a strong fragrant for food. Thai family meal involves rice and various sauces to dip with rice, there are servings that can be more for guests so they can be able to share it. This can be the price used in Thai restaurant and visiting people that are participating with the meal which is being served all at once.

Sticky rice with its dips can be eaten with the right hand but no one will find you weird if you use fork or cutlery and spoons with families. Thai people wants thai food and they make their dishes in a way to have at least one hot course or a single sauce within a meal. They are well used to be using chili so if you think about ordering something hot you must think twice if you see that a meal in a menu is hot.

The chili can be ranged from mild to medium or can be slightly hot of if you are unsure of the level of hotness in the food you must ask the server for its range of chili sauce.

Vegetarians must seek assistance before ordering Thai meals uses small portion of meat with plenty of prawn and fish sauce. If you are an avid fan of Thai cuisine then most probably in the places that you have visited you can find a thai restaurant that you would want to try and eat. Thai cuisines are everywhere in all areas of the world and of course each places influences the taste of it.

Source: thai restaurants in las vegas

Learning The “Secrets” of Options

Tips When Buying A Baby Food Maker

You want to buy baby food maker in an effort to avoid buying store bought foods to which you do not have any idea on what’s inside. You wish to steer clear of sulfites, chemicals and any type of additive and added preservatives or sugar of any kind. This can be a daunting process and gets more hard to find health food for adults, let alone our little ones.

So, you want to buy the best baby food maker. There are a number of different options that you can go for nowadays and this makes it difficult to pick the right one. So what actually is you need to look for in such product, which makes healthy baby foods when you want at home. Make sure to keep on reading to learn more about it.

Tip number 1. Where is the unit made – this is extremely important as there’s been too much going on about products that are coming from manufacturers with all sorts of health hazards that are attached to them. Anything from paint that lead to plastics that are made with hazardous chemicals are some of the dangers that must be avoided. This is among the reasons to why you must consider where is the unit made.

Tip number 2. The functionality of the unit – you have to consider the unit that you want to buy, is it just a blender, mill or food grinder and then, you need to cook food or something else? That’s is actually quite a lot of stuff to have on your countertop. Finding models that have all you need is recommended to save space on your countertop.

Tip number 3. Will the unit that you like to buy maintains the nutrients of foods you make by keeping water from streaming process – to make the most nutritious and healthiest foods for your child is the main reason for using baby food maker. Nutrient retention from cooking process is an important factor that has to be considered.

Tip number 4. Is it dishwasher safe – with regards to this matter, you have to be sure that all parts are dishwasher friendly from blades to the preparation bowl, making cleaning easy and simple.

Tip number 5. 100% unbreakable and be BPA free -BPA stands for Bisphenol A, which is a compound used in multiple plastic products of these days. As a matter of fact, there are lots of debates going on around here whether small amounts of BPA leaching out of plastics and to the foods we eat or not. To be sure, buy only baby food makers that are 100% free of BPA.

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WorldofSauces.com Launched in Response to Nation’s Surging Nutrition Issues

FOR IMMEDIATE RELEASE

(Brea, California)– An estimated 90 percent of children in the United States are at risk of developing micronutrient deficiency according to the Centers for Disease Control and Prevention’s most recent analysis. A form of malnutrition stemming from dietary imbalance, this new epidemic spanning the country leaves America’s children vulnerable to rashes, bone deterioration, bleeding gums, anxiety, failure to thrive and a number of other health complications. At the same time, the obesity rate among children and adolescents has surged over the last three decades. With this crisis in mind, spokesperson Odette France has launched a new website.

France elaborated, “Developments like these are among the driving forces behind the launch of WorldofSauces.com, our new website dedicated to promoting healthy diets. One of the features of our site is our ‘healthy eating for kids’ segment featuring Malnutrition: The New Childhood Epidemic, an in-depth discussion of the situation. Nutritious foods are more readily available than ever with programs like SNAP, WIC and free or reduced lunches in schools now in play, but parents still face problems in this realm. Even though children have access to those healthy fruits and veggies, they aren’t eating them. Our website will approach this situation from a couple different angles.

World of Sauces provides a number of nutritious sauce recipes for pasta, meat and vegetables. Some of these include spicy buffalo sauce for wings, creamy alfredo sauces and homemade salsa along with sweet options such as caramel sauce for ice cream. The website will additionally offer recipes for salad dressings and dips. Viewers may search for recipes based on individual meals, specific ingredients and various targeted diet plans such as vegan, vegetarian, low-fat, low-carb and gluten-free to name a few.

The new website will likewise provide information designed to help parents learn ways of encouraging their children to make healthier choices. Included in the “Progressive Approach to Healthy Nutrition” portion of the website are 25 methods of getting children to eat more vegetables with each technique rated according to effectiveness. Details surrounding these methods as well as the benefits and downsides of each are discussed.

Concluded France, “Malnutrition isn’t an issue we commonly associate with our country, but it’s a growing problem even here. As mentioned in our informational segment, waste is up more than 50 percent when it comes to healthy foods, so we’ve got to find creative and delicious ways of getting children more interested in nutritious dishes. We hope by combining recipes for homemade sauces, dips and dressings with in-depth information geared toward parents on our website, we can collectively reach this goal.”

About WorldofSauces.com:

A website for Sauce Lovers and parents of picky eaters, WorldofSauces.com provides a wealth of homemade healthy dips, salad dressings and sweet and savory sauce recipes categorized by meal type, origin, ingredient and diet as well as tips for using and serving sauces.

Source: http://www.12newsnow.com/story/31633045/news

E-Discovery Solutions for Small Firms: All You Need to Know

The ongoing volatility in the global economy has had dire consequences on both large and small enterprises. One of the areas that have particularly felt the heat is electronic discovery (e-discovery) – an infamously expensive and time-consuming aspect of the litigation process, once viewed as a matter of concern for only large cases and state forums. The reality, however, is that legal firms of all sizes must have an understanding of how to handle electronic discovery in a cost-effective and efficient manner.

What is e-Discovery?

E-discovery is the process of categorizing, collecting, preserving, evaluating, reviewing, and producing electronically stored information (ESI). The major aspect of e-discovery is litigation. It is, however, not only limited to litigation e-discovery process, but also holds relevance in compliance and even storage management. E-discovery tools and best practices, therefore, can influence any business process that uses Electronically Stored Information. The most-affected work-groups, however, are Legal, GRC, and IT, all of which must manage ESI with a sound e-discovery solution.

Significance of eDiscovery Solutions for Small Firms

Firstly, many states in the US federal system have laid out their own e-discovery rules and regulations. As with the rise of intervention of state in small local cases, especially in the domain of family disputes, e-discovery has now become a local issue.

Secondly, with the prevalent use of digital media among in day-to-day lives, it is certain that e-discovery is becoming an issue in criminal cases as well. Starting from federal to local level e-discovery has now become a common term.

The advent of e-discovery has caused mayhem on the practice and business of law, creating a breeding ground for vendors at large and for some lawyers regardless of economic conditions. It has now become nearly impossible to practice successful litigation without e-discovery. This has led to a third party involvement between lawyers and litigants.

Fulfilling the Requisite

E-discovery can be completely outsourced or done internally or a bit of both. No matter where you fall in the bandwidth, at some point in time, your enterprise will require e-discovery software solutions. Always employ a credible provider that is known to provide cost-effective services with comprehensive service support. Although there is no set of predefined guidelines to select an e-discovery provider, but some basic attributes listed below will help you choose the right one.

Fire Safety & Fire Risk Assessments

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Fire safety & fire risk assessments in a commercial environment deals with the legal requirements which must be met to protect both employees and your business from any risks related to fires. There is very specific legislation which governs fire safety management and helps to identify what these fire related risks would be and how to manage them.

The Regulatory Reform for Fire Safety Order 2005 is the relevant legislation, and this legislates that a responsible person must be employed to carry out the correct fire risk assessment procedures. This responsible person may be the owner of an industrial business, or premises, an occupier or even employee.

These responsible persons are tasked to carry out a fire risk assessment and put into practice fire safety measures. The aim of these being to minimize the risk to human life! Once this has been carried out the assessment record has to be kept up to date.

This fire safety regulatory reform also means that fire fighting equipment is required on certain premises and must be maintained to specific standards. This includes regular inspection and or maintenance of fire extinguishers and or any other fire fighting equipment. These are very strict procedures and have to be undertaken by a competent and regulated business.

It is for this reason that fire risk assessment companies work hand in hand with their clients to ensure that all legal requirements are met. As there are health and safety regulations and lives at stake, this type of service delivery should be carried out by engineers, consultants and technicians who have extensive knowledge of the current legislation.

There is a need to minimise risk, by first identifying the fire risks associated with a given business, and these need to take place in consultation with the business.

This is a very highly skilled and regulated area of expertise and strict procedures must be followed by competent personnel. This adds value to your business and helps to avoid expensive disruptions. In any industry it is vitally important to understand how health, safety and fire regulations apply and what fire safety systems should be in place.

What really is required, is one contractor who is able to conduct the fire risk assessments to ensure that your business is compliant. They should also be able to provide complete commercial fire risk solutions which include supply, installation and maintenance of fire safety systems, in-house fire training and complete compliance.

Protecting premises, equipment, employees, customers and creating a safe environment improves business performance and instils confidence. At a bare minimum they need to be a member of the Fire Industry Association, and at the very least have senior fire officers on staff. You are looking for a comprehensive solution which is legislatively compliant and works with the way that you run your business.

Managing Risk in Financial Sector

Risk Management is a hot topic in the financial sector especially in the light of the recent losses of some multinational corporations e.g. collapses of Britain’s Barings Bank, WorldCom and also due to the incident of 9/11. Rapid changes in business condition, restructuring of organizations to cope with ever increasing competition, development of new products, emerging markets and increase in cross border transactions along with complexity of transactions has exposed Financial Institutions to new risks dimensions. Thus the concept of risk has captured a growing importance in modern financial society.

By facilitating transactions and making credit and other financial products available, the financial sector is a crucial building block for private as well as public sector development. In its broadest definition, it includes everything from banks, stock exchanges, and insurers, to credit unions, microfinance institutions and moneylenders. As an efficient service provider, the financial sector simultaneously fulfils an important function in the overall economy. Various types of Financial Institutions actively working in Financial Sectors include Banks, DFIs, Micro Finance Banks, Leasing Companies, Modarabas, Assets Management Company, Mutual Funds, etc.

Thus today’s operating environment demands systematic and more integrated risk management approach.

Risk:

Risk by default has tow components; uncertainty and exposure. If both are not present, there is no risk. Definition of Risk as per Guidelines on Risk Management issued by State Bank of Pakistan is, “Financial risk in a banking organization is possibility that the outcome of an action or event could bring up adverse impacts. Such outcomes could either result in a direct loss of earnings / capital or may result in imposition of constraints on bank’s ability to meet its business objectives. Such constraints pose a risk as these could hinder a bank’s ability to conduct its ongoing business or to take benefit of opportunities to enhance its business.”

Types of Risks:

Risks are usually defined by the adverse impact on profitability of several distinct sources of uncertainty. More or less all financial institutions have to manage the following faces of risks:

1. Credit Risk

2. Market Risk

3. Liquidity Risk

4. Operational Risk

5. Country Risk

6. Legal Risks

7. Compliance Risk

8. Reputational Risk

Broadly speaking there are four risks as per Risk Management Guidelines which surround Financial Sector i.e. Credit Risk, Market Risk, Liquidity Risk and Operational Risk. These risk are elaborated here under:

i. Credit Risk

This is the risk incurred in case of a counter-party default. It arises from lending activities, investing activities and from buying and selling financial assets on behalf of others. This risk is associated with financing transactions i.e.:

a. Default in repayment by the borrower and

b. Default in obliging the commitment by another Financial Institution in case of syndicated arrangements.

It is the most critical risk in banking and one that must be managed carefully. It is also the risk that requires the most subjective judgment despite constant efforts to improve and quantify the credit decision process.

ii. Market Risk

Market risk is defined as the volatility of income or market value due to fluctuations in underlying market factors such as currency, interest rates, or credit spreads. For commercial banks, the market risk of the stable liquidity investment portfolio arises from mismatches between the risk profile of the assets and their funding. This risk involves interest rate risk in all of its components: equity risk, exchange risk and commodity risk.

iii. Liquidity Risk

The liquidity risk is defined as the risk of not being able to meet its commitments or not being able to unwind or offset a position by an organization in a timely fashion because it cannot liquidate assets at reasonable prices when required.

iv. Operational Risk

This risk results from inadequacies in the conception, organization, or implementation of procedures for recording any events concerning bank’s operations in the accounting system/information systems.

Need for Risk Management and Monitoring:

There are a number of reasons as to why there is so much emphasis given to Risk Management in Financial Sector now a day. Some of them are listed below: –

1. Present structure of joint stock companies, wherein owners are not the mangers, hence risks increase; therefore proper tools are required to achieve the desired results by covering the risks.

2. The financial sector has come out of simple deposit and lending function.

3. The world has become very complex so the financial transactions and instruments.

4. Increase in the number of cross border transactions which caries its own risks.

5. Emerging markets

6. Terrorism Remittances

Risk monitoring in financial sector is very crucial and an inevitable part of risk management. Risk Monitoring is important in the financial sector due to the following reasons:

1. Deals in others’ money

2. Direct stake of deposit holder.

3. Much riskier sector than trading and manufacturing.

4. Previous / Recent problems faced by banks i.e. stuck portfolio that is credit risk.

5. Bankruptcy of Barings Bank due to short selling / long position that is market risk.

6. Operational risk does not has immediate impact, but important for continuity and progress of organization.

7. Appetite of a financial institution to take risk is related with the capital base of the institute so it caries a huge risk of over exposure.

Components of Risk Management Frame Work

Risk Management Frame Work has five components. First of all risk is Identified, then it is Assessed to classify, seek solution and management, after assessing quick Response and implementation of solution and the last phase is Monitoring of the risk management progress and Learning from this experience that such problem never occur again. Whole process is to be well Communicated during the entire process of risk management if it is to be managed efficiently.

The International Organization for Standardization (ISO) has defined risk management as the identification, analysis, evaluation, treatment (control), monitoring, review and communication of risk. These activities can be applied in a systematic or ad hoc manner. The presumption is that systematic application of these activities will result in improved decision-making and, most likely, improved outcomes.

Structure of Risk Management

Depending upon the structure and operations of organization, financial risk management can be implemented in different ways. Risk management structure defines the different layers of an organization at which risk is identified and managed. Although there are different layers or level at which risk is managed but there are three layers which are common to all. i.e.

Risk Management

For managing risk there are certain basic principles which are to be followed by every organization:

1. Corporate level Policies

2. Risk management strategy

3. Well-defined policies and procedures by senior management

4. Dissemination, implementation and compliance of policies and procedures

5. Accountability of individuals heading various functions/ business lines

6. Independent Risk review function

7. Contingency plans

8. Tools to monitor risks

Institutions can reduce some risks simply by researching them. A bank can reduce its credit risk by getting to know its borrowers. A brokerage firm can reduce market risk by being knowledgeable about the markets it operates in.

Functionally, there are four aspects of financial risk management. Success depends upon

A. A positive corporate culture,

No one can manage risk if they are not prepared to take risk. While individual initiative is critical, it is the corporate culture which facilitates the process. A positive risk culture is one which promotes individual responsibility and is supportive of risk taking.

B. Actively observed policies and procedures

Used correctly, procedures are powerful tool of risk management. The purpose of policies and procedures is to empower people. They specify how people can accomplish what needs to be done. The success of policies and procedures depends critically upon a positive risk culture.

C. Effective use of technology

The primary role technology plays in risk management is risk assessment and communication. Technology is employed to quantify or otherwise summarize risks as they are being taken. It then communicates this information to decision makers, as appropriate.

D. Independence or risk management professionals

To get the desired outcome from risk management, risk managers must be independent of risk taking functions within the organization. Enron’s experience with risk management is instructive. The firm maintained a risk management function staffed with capable employees. Lines of reporting were reasonably independent in theory, but less so in practice.

Internal Controls

Para one on first page of the ‘Guidelines on Internal Controls’ issued by SBP provides:

“Internal Control refers to policies, plans and processes as affected by the Board of Directors and performed on continuous basis by the senior management and all levels of employees within the bank. These internal controls are used to provide reasonable assurance regarding the achievement of organizational objectives. The system of internal controls includes financial, operational and compliance controls.”

The current official definition of internal control was developed by the Committee of Sponsoring Organization (COSO) of the Treadway Commission. In its influential report, Internal Control – Integrated Framework, the Commission defines internal control as follows:

“Internal control is a process, effected by an entity’s Board of Directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:

 Effectiveness and efficiency of operations.

 Reliability of financial reporting.

 Compliance with applicable laws and regulations.

This definition reflects certain fundamental concepts:

 Internal control is a process. It is a means to an end, not an end in itself.

 Internal control is effected by people. It is not policy manuals and forms, but people at every level of an organization.

 Internal control can be expected to provide only reasonable assurance, not absolute assurance, to an entity’s management and board.

Internal control should assist and never impede management and staff from achieving their objectives. Control must be taken seriously. A well-designed system of internal control is worse than worthless unless it is complied with, since the assemblance of control will be likely to convey a false sense of assurance. Controls are there to be kept, not avoided. For instance, exception reports should be followed up. Senior management should set a good example about control compliance. For instance, physical access restrictions to secure areas should be observed equally by senior management as by junior personnel.

Components of Internal Controls

Components of internal control also depend upon the structure of the business unit and nature of its operation. The COSO Report describes the internal control process as consisting of five interrelated components that are derived from and integrated with the management process. The components are interrelated, which means that each component affects and is affected by the other four. These five components, which are the necessary foundation for an effective internal control system, include:

I. Control Environment,

Control environment, an intangible factor and the first of the five components, is the foundation for all other components of internal control, providing discipline and structure and encompassing both technical competence and ethical commitment.

II. Risk Assessments,

Organizations exist to achieve some purpose or goal. Goals, because they tend to be broad, are usually divided into specific targets known as objectives. A risk is anything that endangers the achievement of an objective. Risk assessments is done to determine the relative potential for loss in programs and functions and to design the most cost-effective and productive internal controls.

III. Control Activities,

Control activities mean the structure, policies, and procedures, which an organization establishes so that identified risks do not prevent the organization from reaching its objectives.
Policies, procedures, and other items like job descriptions, organizational charts and supervisory standards, do not, of course, exist only for internal control purposes. These activities are basic management practices.

IV. Information and Communication, and

Organizations must be able to obtain reliable information to determine their risks and communicate policies and other information to those who need it. Information and communication, the fourth component of internal control, articulates this factor.

V. Monitoring

Life is change; internal controls are no exception. Satisfactory internal controls can become obsolete through changes in external circumstances. Therefore, after risks are identified, policies and procedures put into place, and information on control activities communicated to staff, superiors must then implement the fifth component of internal control, monitoring.

Even the best internal control plan will be unsuccessful if it is not followed. Monitoring allows the management to identify whether controls are being followed before problems occur. In the same way, management must review weaknesses identified by audits to determine whether related internal controls need revision.

Tools for Monitoring of Risk

Management Information System

M.I.S or Management Information System is the collection and analysis of data in order to support management’s decision with respect to the achievement of objectives mentioned in the policies and procedures and the control of various risks therein.

It is this area i.e. M.I.S, where I.T can play a vital and effective role as with the help of I.T large information may be analyzed efficiently and with accuracy, so that effective decision may be taken by the management without the loss of any time.

Asset-Liability Management Committee (ALCO)

In most cases, day-to-day risk assessment and management is assigned to a specialized committee, such as an Asset-Liability Management Committee (ALCO). Duties pertaining to key elements of the risk management process should be adequately separated to avoid potential conflicts of interest – in other words, a financial institution’s risk monitoring and control functions should be sufficiently independent from its risk-taking functions. Larger or more complex institutions often have a designated, independent unit responsible for the design and administration of balance sheet management, including interest rate risk. Given today’s widespread innovation in banking and the dynamics of markets, banks should identify any risks inherent in a new product or service before it is introduced, and ensure that these risks are promptly considered in the assessment and management process.

Corporate Governance Principles

Corporate governance relates to the manner in which the business of the organization is governed, including setting corporate objectives and a institution’s risk profile, aligning corporate activities and behaviors with the expectation that the management will operate in a safe and sound manner, running day-to-day operations within an established risk profile, while protecting the interests of depositors and other stakeholders. It is defined by a set of relationships between the institution’s management, its board, its shareholders, and other stakeholders.

The key elements of sound corporate governance in a bank include:

a) A well-articulated corporate strategy against which the overall success and the contribution of individuals can be measured.

b) Setting and enforcing clear assignment of responsibilities, decision-making authority and accountabilities that are appropriate for the bank’s risk profile.

c) A strong financial risk management function (independent of business lines), adequate internal control systems (including internal and external audit functions), and functional process design with the necessary checks and balances.

d) Corporate values, codes of conduct and other standards of appropriate behavior, and effective systems used to ensure compliance. This includes special monitoring of a bank’s risk exposures where conflicts of interest are expected to appear (e.g., relationships with affiliated parties).

e) Financial and managerial incentives to act in an appropriate manner offered to the board, management and employees, including compensation, promotion and penalties. (i.e., compensation should be consistent with the bank’s objectives, performance, and ethical values).

f) Transparency and appropriate information flows internally and to the public.

Tools mentioned above can be utilized in identifying and managing different risks in the following manner:

I. Credit Risk

It is managed by setting prudent limits for exposures to individual transaction, counterparties and portfolios. Credits limits are set by reference to credit rating established by Credit Rating Agencies, methodologies established by Regulators and as per Board’s direction.

o Monitoring of per party exposure

o Monitoring of group exposure

o Monitoring of bank’s exposure in contingent liabilities

o Bank’s exposure in clean facilities

o Analysis of bank’s exposure product wise

o Analysis of concentration of bank’s exposure in various segments of economy

o Product profitability reports

II. Market

Financial Institutions should also have an adequate system of internal controls to oversee the interest rate risk management process. A fundamental component of such a system is a regular, independent review and evaluation to ensure the system’s effectiveness and, when appropriate, to recommend revisions or enhancements.

Interest rate risk should be monitored on a consolidated basis, including the exposure of subsidiaries. The institution’s board of directors has ultimate responsibility for the management of interest rate risk. The board approves the business strategies that determine the degree of exposure to risk and provides guidance on the level of interest rate risk that is acceptable to the institution, on the policies that limit risk exposure, and on the procedures, lines of authority, and accountability related to risk management. The board also should systematically review risk, in such a way as to fully understand the level of risk exposure and to assess the performance of management in monitoring and controlling risks in compliance with board policies. Reports to senior management should provide aggregate information and a sufficient level of supporting detail to facilitate a meaningful evaluation of the level of risk, the sensitivity of the bank to changing market conditions, and other relevant factors.

The Asset and Liability Committee (ALCO) plays a key role in the oversight and coordinated management of market risk. ALCOs meet monthly. Investment mandates and risk limits are reviewed on a regular basis, usually annually to ensure that they remain valid.

Risk Management and Risk Budgets

A risk budget establishes the tolerance of the board or its delegates to income or capital loss due to market risk over a given horizon, typically one year because of the accounting cycle. (Institutions that are not sensitive to annual income requirements may have a longer horizon, which would also allow for a greater degree of freedom in portfolio management.). Once an annual risk budget has been established, a system of risk limits needs to be put in place to guard against actual or potential losses exceeding the risk budget. There are two types of risk limits, and both are necessary to constrain losses to within the prescribed level (the risk budget).

The first type is stop-loss limits, which control cumulative losses from the mark-to-market of existing positions relative to the benchmark. The second is position limits, which control potential losses that could arise from future adverse changes in market prices. Stop-loss limits are set relative to the overall risk budget. The allocation of the risk budget to different types of risk is as much an art as it is a science, and the methodology used will depend on the set-up of the individual investment process. Some of the questions that affect the risk allocation include the following:

* What are the significant market risks of the portfolio?

* What is the correlation among these risks?

* How many risk takers are there?

* How is the risk expected to be used over the course of a year?

Compliance with stop-loss limits requires frequent, if not daily, performance measurement. Performance is the total return of the portfolio less the total return of the benchmark. The measurement of performance is a critical statistic for monitoring the usage of the risk budget and compliance with stop-loss limits. Position limits also are set relative to the overall risk budget, and are subject to the same considerations discussed above. The function of position limits, however, is to constrain potential losses from future adverse changes in prices or yields.

III. Liquidity Risk

The Basel Committee has established certain quantitative standards for internal models when they are used in the capital adequacy context.

a. Allocation of capital into various types of business after taking into account the operational risks i.e. disruption of business activity, which has especially increased due to excessive EDP usage

b. Allocation of the capital is also made amongst various products i.e. long term, short term, consumer, corporate etc. considering the risks involved in each product and its life cycle to avoid any liquidity crunch for which gap analysis is made. This is the job of ALCO

c. For instance Contingent liabilities not more than 10 times of capital,

d. Fund based not more than 6 times of capital

e. Capital market operations not more than 1 time of capital

f. However these limits cannot exceed the regulations.

g. Parameters of controls

o Regulatory Requirements

o Board’s directions

o Prudent practices

For liquidity management organizations are compelled to hold reserves for unexpected liquidity demands. The ALCO has responsibility for setting and monitoring liquidity risk limits. These limits are set by Regulatory Bodies and under Board’s directions keeping in mind the market condition and past experience.

The Basel Accord comprises a definition of regulatory capital, measures of risk exposure, and rules specifying the level of capital to be maintained in relation to these risks. It introduced a de facto capital adequacy standard, based on the risk-weighted composition of a bank’s assets and off-balance-sheet exposures that ensures that an adequate amount of capital and reserves is maintained to safeguard solvency. The 1988 Basel Accord primarily addressed banking in the sense of deposit taking and lending (commercial banking under US law), so its focus was credit risk.

In the early 1990s, the Basel Committee decided to update the 1988 accord to include bank capital requirements for market risk. This would have implications for non-bank securities firms.

Thus, the formula for determining capital adequacy can be illustrated as follows:

= Tier I + Tier 2 + Tier 3 *- 8% .

Risk-weighted Assets + (Market Risk Capital Charge x 12.5)

IV. Operational Risk

To manage this risk documented policies and procedures are established. In addition, regular training is provided to ensure that staffs are well aware of organization’s objective, statutory requirements.

o Reporting of major/ unusual/ exceptional transactions with respect to ensuring the compliance of the principles of KYC and Anti-money laundering measure

o Analysis of system problems

Conclusion

For any business to grow and stay in the market management style is a key and Risk management is basically the management style of managing the risks.

It is so important and that State Bank of Pakistan plans to replace Prudential Regulations with Risk management guidelines, which will be adopted by banks according to their size and complexity of operations.

Risk is inherent in every business and every organization has to manage it according to its size and nature of operation because without it no organization no organization can survive in long run.

Double-Edged Risk

Risk is a simple four-letter word that can mean the next breakthrough or represent impending failure. In the business world risk is generally defined as a “potential problem or threat that could affect the project/program/business ability to meet its commitments (e.g.- capabilities, performance, technical, cost, schedule, financial or other objectives).” Organizations often times have dedicated Risk Managers, Risk Plans, Risk Boards and monthly board meetings to address risks. We routinely brainstorm for new risks that could have a bearing on our business objectives.

In my career I have learned to infuse a risk mindset into every operational and program management role I have led. Having backup or contingency plans, if something should go wrong, have routinely been incorporated into my team’s planning. This is prudent thinking. Our customer’s expect it.

I have also come to believe that so much talk about risk in the business arena is squelching innovation, and optimum personal engagement. Risk is a personal four-letter word. “You avoid it” is the message managers convey. “We don’t want any surprises.”

In our youth, our parents and educational institutions try to impart a “you can do anything” mindset. We are told that we are the new generation that can forge new roads, new solutions and help fix some of our current problems. We ask our youth to take our baseline instruction and create new history, not repeat it. In essence, we ask them to be risk-takers in the new horizon.

Yet in business, our well-meaning intentions, in essence convey a “find the risk and squash it” mentality. There is not a balanced view of risk. Business overcomes this imbalance by adding the word “opportunity.” And so, Risk & Opportunity Management Plans/Boards denoted as R/OMP are borne.

The word opportunity though, in a business context, implies more of a group pursuit, and corresponding achievement. Risk by contrast, has a very personal affiliation when the subliminal messaging of failure, embarrassment and threats are attached to the word. We don’t want to “lose face,” fail or “come up short” so we avoid personal risk at all costs which in fact could be a panacea for a marvelous business achievement.

Leaders must not squelch personal motivation and desire to contribute. An element of entrepreneurialism (i.e.- risk-taking) is the engine that will drive future growth. Emphasizing too much of the downsides of risk can make an organization relatively “safe” but over time, it atrophies.

When Southwest Airlines allowed its flight attendants to give safety briefings in their own words they were in essence breaking ranks with the airline industry and running a risk; a legal risk, a business risk. But the personal entrepreneurial risk of being different has made my own travels far more entertaining and enjoyable than the rote “check-the-box, I told you what I need to tell you” delivery of other airlines. No wonder they became a major carrier against most odds. Google displaced the established leader, Yahoo, by welcoming unique views with a mantra “At Google, we don’t just accept differences – we thrive on it.”

Have you noticed how many people actually contribute in a risk brainstorming session? How many want to even go? Could a participant say something regarded as silly? Will their voice even be heard? The standard risk statement components of IF (this happens) THEN (that will happen) can have very personal connotations of:

IF I speak up, THEN a) I may be wrong b) Someone may laugh c) I will get assigned the work, etc. so maybe I will just withhold my thoughts.

Two Hidden “Legal” Risks of Debt Consolidation Loans

What are Debt Consolidation Loans

Debt consolidation is combining outstanding loans (debt) into a single package (consolidation). The debts therefore become one “new” loan, and instead of making several small payments on the loans you used to have, you make one larger payment on the new loan. Ideally and typically-and what has made debt consolidation loans popular as a home remedy for debt-the new loan is secured by some asset, often your home, and this allows you to obtain lower interest rates. Thus consolidation, in the final analysis, is the conversion of debt that is not secured into debt that is secured by some real asset, in exchange for lower interest rates. It can reduce your monthly payments considerably.

Occasionally people ask me whether debt consolidation is a good, economically constructive solution to their credit card problems. Usually, the answer is that it is no. Certainly it is not a solution by itself.

Why Doesn’t Debt Consolidation “Work?”

As a pure financial transaction, exchanging a lower interest rate for a security arrangement can be a very reasonable decision. Why then has it been such a disaster for so many people? Risk. Most people entering into complex financing are not able to assess risk and account for it, particularly when they are under economic pressure-which they usually are when they consider debt consolidation loans. Thus people systematically underestimate the risk that they won’t be able to make the payments on the new debt.

Additionally, since most people do not really want to go into debt in the first place, the existence of large credit card debt is indicative of other problems, either too little money or a tendency to overspend on unnecessary items. These issues are more likely to be made worse by the sudden reduction of economic pressure and the sudden, apparently greater amount of money or credit available to be spent.

The Hidden Legal Risks of Debt Consolidation

In addition to these “systemic” issues, there are two main hidden costs of consolidation that should be considered: loss of flexibility, and the nature of secured debt versus unsecured debt.

Consolidated Loans are Less Flexible

When you have ten loans for different things, from automobiles to credit cards, you have flexibility if hard times strike. If you simply cannot make your payments, you can give up some, but not all, of the things you have purchased. You can let some, but not all of the credit cards go into default. This is certainly not a happy thing, of course, but it raises the possibility of individualized debt negotiations, debt forgiveness, or even missed statutes of limitation. Again, these are not the choices and hopes of someone in flush economic conditions, but they are real options facing many people right now. In order for a debt collector to start garnishing your wages, it must find and sue you, must win, and then find your assets. It is an expensive and risky process for the debt collector if you fight. They sometimes drop the ball, and there are limits to how much of your wages can be garnished.

If everything else fails for you, you can declare bankruptcy, where homestead exemptions are likely to allow you to remain in your home.

The Nature of Secured Debt

The bigger risk of debt consolidation loans is the nature of secured, versus unsecured, debt. Remember that what powers the lower payments for consolidation is the existence of security-usually your home. Your home secures the debt, and that means that if you do not make your payments on the new debt, the lender can foreclose on your home and take it away. Foreclosures are generally “expedited” proceedings, meaning that your defenses are limited and the time for asserting them is restricted. In many states foreclosure is not even a judicial proceeding, although you have some legal rights you could assert in certain circumstances.

And what all that means is that instead of facing the prospect of years of battling over high-risk debts and questionable payoffs that could be trumped by bankruptcy, the banks can waltz into court and emerge in a very short time with your house.

Put a little differently, your debt consolidation loan could make you homeless almost before you know it. And bankruptcy often, if not usually, will do nothing to protect you.

Conclusion

I urge anyone considering debt consolidation to think about these risks very carefully.

If you are being harassed or sued for debt, you can get a lot of help, much of it free, from my website at: http://yourlegallegup.com. Or please take a look at a brief video presentation: http://www.youtube.com/watch?v=WcxsiR5vedU.

Kenneth H. Gibert.

I Received a J.D. from Washington University Law School in 1989 and practiced law in St. Louis city and county (federal, state and local courts) for almost fifteen years, the last several of which were focused almost exclusively on debt litigation. My mission is to protect ordinary people from being taken advantage of by the debt collectors. Sign up for a free report and more help for people struggling with debt.

Article Source: http://EzineArticles.com/expert/Kenneth_Gibert/336697

Marketing Through Blogs Presents New Legal Risks

In recent times blogs have taken on new meaning on the Internet and World Wide Web. Once considered nothing more than rather offbeat diaries, blogs have become major marketing tools at the present point in time. In fact, today millions of consumers from all walks of life and from all over the globe are turning to blogs to get information and advice about different products and services.

As blogs have become more potent marketing and promotional forces, various legal issues have arisen that warrant close consideration. There are two main concerns in this regard when it comes to blogs and blogging.

First, there is a concern about the inadvertent leak of trade secret information through a blog. Second, there is a concern about the potential for false or deceptive advertising claims that might arise from blogs and through blogging. Never disclose Confidential Information on a blog. There remains a good deal of debate over the true value of a blog when it comes to marketing and advertising. There is a debate over the return on the investment in blogging.

Nonetheless, many businesses are going so far as to encourage their own employees to blog about the products or services offered by these businesses. In such circumstances, it really becomes of paramount concern that the blogging employee does not disclose too much information about a business and its products or services.

An eager blogger could end up revealing confidential information about a business, including vital trade secrets. When this happens, this proprietary information can end up being used by the competition. For this reason, it is vitally important that a blogging employee understand specifically the limitations as to what can and should be revealed through the blogging process.

When any blog or blogger is supported or encouraged by a particular business enterprise or employer it has the very real potential of being considered advertising. With this noted, however, at the present time it is still not entirely clear when a blor or blogger will be subjected to the more traditional advertising and marketing laws, including laws pertaining to disclosure.

Assuming for the moment that a blog in fact is created or supported by a company and intended for marketing purposes, it can be more safely assumed that at least in theory the more traditional marketing laws will apply. The blog could end up being looked at like any other advertisement and false statements could be deemed as being false advertising and hence illegal. On the other hand, First Amendment free speech issues also enter into the mix because of the underlying nature of blogging.

The reality is that the First Amendment does apply more to individual speech than it does to so-called commercial speech. In other words, an individual citizen has more leeway in expressing his or her opinions that does a paid endorser.

With that noted, the more a blog veers towards becoming the purveyor of a commercial message or communication, the more likely it will be subjected to legal scrutiny and the application of the more traditional laws pertaining to advertisement, marketing and promotional claims. There are couple of fundamental considerations that come into play when attempting to determine whether or not a blog is commercial in nature. One key issue is whether or not the blogger is compensated by the company or business in question for creating the blog in the first instance. If the blogger in fact is paid, that blogger might be treated in the same was a paid endorser.

The Federal Trade Commission or FTC has guidelines pertaining to what a paid endorser can and cannot, should and should not do. These guidelines can be found online at http://www.ftc.gov/bcp/guides/endorse.htm

In addition, the Word of Mouth Advertising Association (WOMMA) has a useful ethical guide that can be helpful to a blogger. Finally, a growing number of bloggers are posting disclaimers notifying the viewer that the person is being compensated for creating and maintaining the blog.

Even with disclaimers and even by taking other similar steps, there are gray areas, including whether an employee that creates a blog on his or her own time without receiving additional compensation, or a blogger who receives free product, meets the criteria of receiving compensation. There is now some significant movement in the direction of requiring the blogger to make full disclosure of such a relationship.

Another relevant issues pertains to whether the company has any control over the content of the blog itself. For example, a business that has employees who are encouraged to create blogs could be stuck in a proverbial no-man’s land when it comes to laws governing advertisement and their application to that particular blogging situation. If a company does exercise control, it is more likely to be held responsible and liable for acts of copyright infringement, trademark infringement and false advertising committed by the blog operator through the course of the blogging process.

Presently, there are no definitive solutions on how to deal with company bloggers. One course that some businesses are taking is providing their blogging employees with education and training.

In the end, a company likely will want to take care so as not to exercise too much control over a blog By exerting even a minimal amount of control a company may be seen as liable and responsible for the content of any given blog.

Perhaps the most important question for any business is not whether or not to blog but rather how to make blogs work better for a company in the first and in the final analysis. Through this process, legal considerations must be kept well in mind in order to reduce any potential liability that might otherwise befall a business enterprise.

Robert Masud, Esq. is the principal of Masud & Company LLC, a law firm for the world of business, finance and the internet.

Find out how our lawyers can help you at http://www.masudco.com

Article Source: http://EzineArticles.com/expert/Robert_Masud/96389

Corporate Solutions For Critical Employee Leave Issues

Many employers feel stuck between letting absences spiral out of control and worrying about triggering lawsuits by improperly denying leave. Some common human resource problems many employers face – employee leave. This includes: employee vacation, absenteeism, sick time, FMLA, maternity leave, disability, workers’ comp leave, time off as ADA accommodation, and military leave. Discover how to take charge of employee leave while staying within the law.

Nowadays, managing employee leave has almost become a full-time job for HR and supervisors.

Consider how many types of employee leave employers might have to address on any given day…vacation time, sick time, FMLA and more. On top of these issues are the states’ various leave laws on everything from jury duty, voting, school visitation and family/medical leave to time off for victims of domestic violence.

Here are five solutions to common human resource employee leave issues:

1. Time Off as ADA Accommodation. Problem: The employer is struggling to decide how much time off to allow a disabled employee as a reasonable accommodation under the ADA. You’re not alone-it’s one of HR’s trickiest issues. Solution: Determine how much time off the employee would need in order to return and perform the job’s essential functions and whether it would create an undue hardship to hold the position open that long.

2. Pregnancy and Maternity Leave. Problem: When an employee announces she’s pregnant, the employer may be happy for her personally but worried about the resulting implications for scheduling, employee retention and leave issues-not to mention the potential lawsuit risks. Solution: Make sure there’s a legally sound pregnancy/maternity leave policy in place, as well as an action plan for keeping workflow disruption to a minimum.

3. FMLA Intermittent Leave. Problem: An employee is taking FMLA intermittent leave at a moment’s notice, and the employer is beginning to question her real motivation. Solution: Require medical certification (in the legally smart way) to prove her leave request is legitimate. Also, track intermittent leave in the smallest units your timekeeping system allows.

4. Absenteeism and Sick Leave. Problem: The costs of employee absenteeism-reflected in lost productivity, overtime and temporary replacements for absent workers-can add up quickly. Solution: Adopt a reasonable and specific attendance policy tailored to the needs of your organization and specific jobs.

5. Vacation and Holiday Scheduling. Problem: Productivity takes a hit when employees take vacation at the busiest times. Also, scheduling employees during the holidays can cause logistical headaches, dampened morale and legal risks. Solution: Adopt a clear, written policy that spells out vacation blackout dates and proper vacation request procedures, and minimize holiday scheduling hassles with some smart preventative measures.

Some of these tips may help you keep disruption and liability to an absolute minimum in your workplace.

Note: This article deals with federal employment laws, make sure you double-check your individual state’s laws on employee leave issues.

You can access states specific information on the National Conference of State Legislatures’ website.

For more information on the book, ‘Employee Leave: Your 8 Biggest Problems Solved’, visit http://www.amazon.com/Employee-Leave-Biggest-Problems-Solved/dp/B005S0IES2/.

Article Source: http://EzineArticles.com/expert/Wendy-Leigh_Montes_De_Oca/90463