Organizational risk management maturity in banking

Abstract

“Every business and every product has risks. You cannot get around it”. Lee Iacocca

The initial purpose of this work is to procure a closer insight to the comprehending, use and application of Risk Maturity Models and the advantages of their execution in an Organizational Level.

The first chapters of the thesis are about a comprehensive analysis of Risk Management, Risk Management Maturity, and Risks in Banking nowadays. The analysis helps the reader to understand the main attributes and domains we examined in the section of assessment.

The basic goal of the research part that follows is to execute one of the most important Maturity Models to a financial institution in Cyprus. The collection of data was made through questionnaires based on the Maturity Model we have selected in literature. The researcher has done three interviews to high positioned stuff members of the organization to complete the research findings.

The last section of the dissertation includes a visual presentation of the data, provides conclusions and some limitations that must be taken into account for common future works.