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Finance Risk Assessment

Finance Risk Assessment Template for Austria

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Key Requirements PROMPT example:

Finance Risk Assessment

"I need a Finance Risk Assessment document for a medium-sized Austrian fintech company, focusing particularly on cryptocurrency trading risks and digital payment systems, with extra attention to cybersecurity risks and compliance with the latest FMA regulations."

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Document background
The Finance Risk Assessment document serves as a crucial tool for financial institutions operating under Austrian jurisdiction to evaluate and manage their risk exposure. It is required by regulatory authorities, particularly the Financial Market Authority (FMA), and must comply with both Austrian national legislation (including the BWG) and EU-wide regulations. This document is typically required during annual reviews, major organizational changes, new product launches, or in response to significant market events. It encompasses comprehensive analysis of credit, market, operational, and liquidity risks, while also addressing compliance with anti-money laundering regulations and data protection requirements. The assessment is essential for maintaining regulatory compliance, ensuring sound risk management practices, and protecting stakeholder interests.
Suggested Sections

1. 1. Executive Summary: Overview of key findings, major risks identified, and critical recommendations

2. 2. Scope and Objectives: Definition of assessment scope, objectives, and regulatory framework being addressed

3. 3. Methodology: Detailed description of risk assessment approach, tools, and criteria used

4. 4. Risk Categories Analysis: Comprehensive analysis of different risk categories including credit, market, operational, and liquidity risks

5. 5. Quantitative Risk Assessment: Statistical analysis, stress testing results, and quantitative risk metrics

6. 6. Qualitative Risk Assessment: Analysis of non-quantifiable risks, including strategic and reputational risks

7. 7. Control Environment: Evaluation of existing risk management frameworks and control measures

8. 8. Regulatory Compliance Assessment: Analysis of compliance with relevant Austrian and EU financial regulations

9. 9. Risk Mitigation Recommendations: Detailed recommendations for addressing identified risks

10. 10. Implementation Plan: Proposed timeline and steps for implementing recommendations

11. 11. Monitoring Framework: Procedures for ongoing monitoring and review of identified risks

Optional Sections

1. Cybersecurity Risk Analysis: Detailed assessment of IT and cybersecurity risks, required when digital assets or online services are significant

2. Environmental Risk Assessment: Analysis of climate-related and environmental risks, required for institutions with significant environmental exposure

3. Cross-border Risk Analysis: Assessment of risks related to international operations, needed when institution operates across multiple jurisdictions

4. Group Structure Impact: Analysis of risks related to corporate group structure, required for institutions that are part of a larger corporate group

5. Trading Book Analysis: Detailed assessment of trading-related risks, required for institutions with significant trading activities

Suggested Schedules

1. Appendix A: Risk Assessment Matrices: Detailed risk scoring matrices and assessment criteria

2. Appendix B: Statistical Data and Analysis: Raw data, statistical calculations, and analytical models used

3. Appendix C: Regulatory Requirements Checklist: Detailed checklist of compliance with specific regulatory requirements

4. Appendix D: Interview Protocols and Findings: Documentation of interviews conducted and key findings

5. Appendix E: System and Control Testing Results: Results of control testing and system evaluations

6. Schedule 1: Risk Register: Comprehensive register of all identified risks and their classifications

7. Schedule 2: Action Items: Detailed list of required actions, responsibilities, and deadlines

8. Schedule 3: Technical Systems Overview: Documentation of technical systems and their risk implications

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Acceptable Risk Level
Assessment Period
Austrian Financial Market Authority (FMA)
Basel Framework
Capital Adequacy
Compliance Risk
Counterparty
Credit Risk
Critical Risk Indicators
Early Warning Indicators
Environmental Risk
EU Regulatory Requirements
Financial Institution
Going Concern Scenario
Gone Concern Scenario
Inherent Risk
Key Risk Indicators (KRIs)
Liquidity Coverage Ratio (LCR)
Liquidity Risk
Market Risk
Material Risk
Net Stable Funding Ratio (NSFR)
Operational Risk
Probability of Default
Regulatory Capital
Residual Risk
Risk Appetite
Risk Assessment Methodology
Risk Category
Risk Control Measures
Risk Exposure
Risk Framework
Risk Likelihood
Risk Management System
Risk Matrix
Risk Mitigation
Risk Owner
Risk Profile
Risk Rating
Risk Register
Risk Tolerance
Risk Treatment
Significant Risk
Stress Testing
Supervisory Authority
Systemic Risk
Value at Risk (VaR)
Clauses
Risk Assessment Scope
Regulatory Compliance
Confidentiality
Data Protection
Information Security
Governance and Oversight
Risk Measurement Methodology
Reporting Requirements
Documentation Requirements
Review and Updates
Risk Appetite Statement
Risk Tolerance Levels
Control Measures
Monitoring and Review
Stress Testing Requirements
Capital Requirements
Liquidity Requirements
Risk Management Framework
Internal Controls
Audit Rights
Emergency Measures
Business Continuity
Incident Reporting
Regulatory Reporting
Record Keeping
Responsibility Assignment
Risk Assessment Procedures
Limitation of Liability
Governing Law
Dispute Resolution
Amendment Procedures
Force Majeure
Notice Requirements
Representations and Warranties
Compliance Certifications
Third-Party Assessment Rights
Implementation Timeline
Training Requirements
Quality Assurance
Performance Metrics
Relevant Industries

Banking

Insurance

Investment Management

Asset Management

Financial Services

FinTech

Credit Institutions

Pension Funds

Investment Funds

Payment Services

Securities Trading

Relevant Teams

Risk Management

Compliance

Internal Audit

Finance

Treasury

Legal

Operations

Executive Management

Credit Analysis

Portfolio Management

Regulatory Reporting

Corporate Governance

Relevant Roles

Chief Risk Officer

Risk Manager

Compliance Officer

Internal Auditor

Financial Controller

Chief Financial Officer

Risk Analyst

Regulatory Compliance Manager

Treasury Manager

Portfolio Manager

Credit Risk Analyst

Operations Director

Chief Executive Officer

Legal Counsel

Risk Assessment Specialist

Financial Analyst

Industries
BWG (Bankwesengesetz): Austrian Banking Act - Primary legislation governing banking operations and risk management requirements for financial institutions
FMA-SV (FMA-Solvabilitätsverordnung): Austrian Solvency Regulation - Specifies capital requirements and risk assessment standards for financial institutions
EU Regulation 575/2013 (CRR): Capital Requirements Regulation - EU-wide rules on capital requirements for credit institutions and investment firms
EU Directive 2013/36/EU (CRD IV): Capital Requirements Directive - Framework for banking supervision and risk management in the EU
FM-GwG (Finanzmarkt-Geldwäschegesetz): Financial Markets Anti-Money Laundering Act - Requirements for risk assessment related to money laundering and terrorist financing
DSGVO (GDPR): General Data Protection Regulation - Requirements for handling personal data in financial risk assessments
WAG 2018 (Wertpapieraufsichtsgesetz): Securities Supervision Act 2018 - Regulations for investment services and risk assessment in securities trading
FiRiG (Finanzkraftrisikoverordnung): Financial Strength Risk Regulation - Specific requirements for assessing financial risks and stability
ESAEG (Einlagensicherungs- und Anlegerentschädigungsgesetz): Deposit Guarantee and Investor Compensation Act - Risk assessment requirements related to deposit protection
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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