Risk Assessment and Resilience for Commonwealth Bank

Running head: RISK ASSESSMENT AND RESILLIENCE
RISK ASSESSMENT AND RESILLIENCE
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1RISK ASSESSMENT AND RESILLIENCE
Table of Contents
Part a: Risk assessment....................................................................................................................2
Part b: Identification and Recommendation....................................................................................3
Introduction......................................................................................................................................3
Risk identification............................................................................................................................3
Recommendation.............................................................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................8

2RISK ASSESSMENT AND RESILLIENCE
Part a: Risk assessment
The different risks that are encountered by the organizations in diverse environments
affects the operations and goodwill of the same. In this elation, the discussion will undertake an
assessment of the different risks that are encountered by Commonwealth Bank, Australia. The
assessment of the risks will be assisting the concerned organization in designing the operational
strategies for supporting the long term sustainability of the venture. The application of the Risk
identification framework has helped in identifying and segregating the different risks that are
encountered by the concerned organization. The framework assessed the internal and external
environment of the organization and thereby evaluated the risks.
Figure 1: Risk identification framework

3RISK ASSESSMENT AND RESILLIENCE
(Source: McConnell 2012)
The risks that are faced by Commonwealth Bank are related to development of digital
money and Cyber-attack. The risks have affected the capabilities of the organization in
retaining the trust and loyalty of the customer base. On the other hand, the external risks has
affected the capability of the concerned organization in maintaining the adaptability of the same
as per the technological changes and the interests of the stakeholders. The recent technological
developments have curtailed the capabilities of the organization in adhering to the financial
needs of the customers.
Part b: Identification and Recommendation
Introduction
Risks identification and mitigation forms an important part of the organizational
operations as it helps a business in maintaining the efficiency of the operations as per the needs
of the business (Buckby, Gallery and Ma 2015). In this relation, the Commonwealth Bank
encountered risks that might be mitigated in order to maintain the efficiency of then operations
and retain the customer base of the same. The discussion will aim at understanding the risks that
are faced by the concerned organization and the different steps that might be considered by the
same for mitigation.
Risk identification
1. Development of digital money