Risk Management Assessment At Urban Credit Limited

Risk is a very common word liberally used in the news media, especially financial journalism, heavy academic journals, professional magazines and most often by the regulators. Risk may be thought of as a concept that describes uncertainty in achieving goals and drivers of uncertainty include lack of information, knowledge, judgment and care to maintain a few. Risk is the most fundamental factor that influences financial behaviour and it would be fairly a simple job to allocate and manage resources in the absence of risk (Khandelwal, 2009).

Managing risk has acquired greater dimensions in the wake of the Structural changes that has come about the international financial world. Mergers and alliances, coupled with growth in size, competition deregulation, product innovation, new business initiatives have substantially altered the behaviour of this world (Khandelwal, 2009).

The environment in which we operate is a complete set of relationships and interactions amongst many an element and the very purpose of the existence of an organization are to create value by interacting with its environment. Resources such as human, financial, intangible assets are converted into services to create value that cater to the needs of the constituents and society at large. In such a scenario, risk traces its origin to the uncertainty of an unexpected change in the environment. Managing risk in short means managing the organization. An organization can be termed risk fit if it has sensitivity to detect risk, has flexibility to respond to risk and the capability to mitigate risk in terms of resources (Khandelwal, 2009).

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