ETS Final Exam UPDATED ACTUAL Questions And Correct Answers
Terms in this set (37)
types of risks operational, financial, credit, other (technical, security, data, environmental)
operational risk involves risk of mistakes or fraud resulting in financial exposure
field operations (accidents) traders, transaction confirmations, online trading
supply chain operations traders, transaction confirmations, online trading, scheduling and storage,
mistakes and omission
financial risk definition financial exposure due to market fluctuation
financial risk examples protecting against or falling charges, locking in margins, mark to market daily
tracking
credit risk definition risk of non-performance of financial commitments
credit risk examples credit limits (receivable), liquidity limits (payable), mark to market, accts payable
and receivable, complete picture
purpose and approach of Mark-to-Market is Measure the current value of the assets rather than just recording historical values
properties of the Middle office Properties are CONTROLS and COMPLIANCE which includes roles such as
Auditors' Role
Management's Role
Technology's Role
Government's Role
why the middle office sector is vital In recent years the Middle Office of the Natural Gas (Energy) Industry has
become one of the fastest growing sectors in our industry. As our Industry
becomes more fast paced and risk averse, the role of the Middle Office becomes
more and more vital.
what the roles of Auditors are. Controls designed to protect the company from harm are in place, When issues
are identified, new safeguards are put in place, Auditors need to involve
Management on a timely basis, GAAP
different types of audits Internal
External
Jurisdictional
Governmental
Terms in this set (37)
types of risks operational, financial, credit, other (technical, security, data, environmental)
operational risk involves risk of mistakes or fraud resulting in financial exposure
field operations (accidents) traders, transaction confirmations, online trading
supply chain operations traders, transaction confirmations, online trading, scheduling and storage,
mistakes and omission
financial risk definition financial exposure due to market fluctuation
financial risk examples protecting against or falling charges, locking in margins, mark to market daily
tracking
credit risk definition risk of non-performance of financial commitments
credit risk examples credit limits (receivable), liquidity limits (payable), mark to market, accts payable
and receivable, complete picture
purpose and approach of Mark-to-Market is Measure the current value of the assets rather than just recording historical values
properties of the Middle office Properties are CONTROLS and COMPLIANCE which includes roles such as
Auditors' Role
Management's Role
Technology's Role
Government's Role
why the middle office sector is vital In recent years the Middle Office of the Natural Gas (Energy) Industry has
become one of the fastest growing sectors in our industry. As our Industry
becomes more fast paced and risk averse, the role of the Middle Office becomes
more and more vital.
what the roles of Auditors are. Controls designed to protect the company from harm are in place, When issues
are identified, new safeguards are put in place, Auditors need to involve
Management on a timely basis, GAAP
different types of audits Internal
External
Jurisdictional
Governmental
