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Risk Management Strategies And Solutions For 21 Century Europe

Author

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  • Liliana-Aurora CONSTANTINESCU

    () ("Dimitrie Cantemir" Christian University, Brasov, Faculty of Finance, Banking and Accountancy)

  • Adrian CONSTANTINESCU

    () (""Lucian Blaga" University, Sibiu, Faculty of Economy Science,)

Abstract

This paper is intended to be a significant insight into risk management issues by describing the main types of such risks and by providing management and evaluation procedures of significant risks into some active banking companies in Romania. In times of crisis, risk management in the banking system has a greater importance than in the normal economic times. The 2011 was a year in which Romania has been hit by the repercussions of the international economic crisis. Using strategies against risks, implementing procedures to monitor and control risks, risk assessment and quantification can substantially reduce the financial losses of a company or those of a financial institution. Risk management is an integral part of all decision making and business processes from credit institutions, its purpose being to protect their sustainable development. The risks analysis and management in the banking domain represents two ever present and highly important problems. The innovations on the financial market, the internationalization of the specific operations, and the pressure of the competition are just a few arguments that impose a permanent supervision of the general and specific risks.

Suggested Citation

  • Liliana-Aurora CONSTANTINESCU & Adrian CONSTANTINESCU, 2011. "Risk Management Strategies And Solutions For 21 Century Europe," Review of General Management, Spiru Haret University, Faculty of Management Brasov, vol. 14(2), pages 151-158, November.
  • Handle: RePEc:fmb:journl:v:14:y:2011:i:2:p:151-158
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    More about this item

    Keywords

    risk management; performance management; compound risk; crisis management team; communication during crisis.;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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