You are a project manager working in the mortgage banking industry.

You are a project manager working in the mortgage banking industry.

Scenario:
You are a project manager working in the mortgage banking industry. Your manager informed you that government agency auditors are coming to the headquarters to perform an audit. The emphasis will be on the risk management program. This audit is very important because penalties for noncompliance can be high. This audit is a top priority for the entire company, and your manager has asked you to be prepared to answer questions about the bank’s risk management program.

Your manager told you to review and analyze all documentation associated with managing risks and to explain the following:

Different types of risks that your bank manages
How threats and opportunities are identified, analyzed, responded to, and monitored
The risk management plans that the bank has in place
You should know everything from program-level to risk management documentation used in each phase of the process, as well as the tools and techniques used to manage risks.

The manager wants you to watch the following two videos and then prepare a discussion about risks, risk management, and risk management processes using the list of questions below (QualityGurus, 2013; RiskX: Risk Management for Projects, 2017):

Introduction to Risk Management



Risk Management Processes



What is risk?
What is risk management?
What constitutes a threat to a project?
What opportunities are available to projects?
What are industry examples of a specific risk management requirement in the preventive action clause?
How should risk management planning be done?
What are key characteristics of risk?
In risk analysis, what are the considerations for risk?
What is the goal of applying risk response strategies for positive risks?
What is one of the most common risk identification techniques?
Risk analysis can be done from what aspect?
What are the important tools used in risk analysis?
Use the template provided to complete a 3-page report (excluding the cover page). NOTE: Please delete all instructions and examples before submitting your work. Title page: Remember the running head. The title should be in all capitals.
Length: 3 pages minimum
Body: This begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your paper for this assignment is 3 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
Reference page: References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation

Answer preview to You are a project manager working in the mortgage banking industry.

You are a project manager working in the mortgage banking industry.

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