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Risk Management Model from the Perspective of the Implementing ISO 9001:2015 Standard Within Financial Services Companies

Author

Listed:
  • Cãtãlina Sitnikov

    (University of Craiova)

  • Claudiu George Bocean

    (University of Craiova)

  • Dorel Berceanu

    (University of Craiova)

  • Ramona Pîrvu

    (University of Craiova)

Abstract

In its new form, the ISO 9001:2015 standard activates and utilizes a thought pattern based on risk assessment functioning in parallel with the implementation of the system regarding quality management. Therefore, we strive to identify the risks and opportunities associated with the processes and products needed to create and implement a system of quality management based on the ISO 9001:2015 standard. This standard is defined by a strong client-based orientation, motivation and managerial involvement from the higher levels, as well as a process-based approach and a commitment towards constant improvement. By implementing the requirements of the new version of the ISO 9001:2015 standard, the organisation needs to determine all the processes necessary to the system of quality management, as well as to identify those which include activities dealing with risks and opportunities. Considering the importance and the impact of the requirements of the new version of the ISO 9001:2015 standard, starting from theoretical concepts and underscoring a set of research vectors, a model of financial risk assessment has been devised. The model is based on the correlation which can be established between the multiplicity of components relating to the components of the new standard structure, SL Annex, elements of an approach derived from risk patterns of processes and risk types which are assessed from the perspective of financial services companies.

Suggested Citation

  • Cãtãlina Sitnikov & Claudiu George Bocean & Dorel Berceanu & Ramona Pîrvu, 2017. "Risk Management Model from the Perspective of the Implementing ISO 9001:2015 Standard Within Financial Services Companies," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(S11), pages 1017-1017.
    • Handle: RePEc:aes:amfeco:v:19:y:2017:i:s11:p:1017
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    References listed on IDEAS

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    Cited by:

    1. Adrian Cosman, 2020. "The Impact of Managerial Activities on the Effectiveness and Efficiency of the Public Institution," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 586-591, August.
    2. Gabriel Ioan Avrămescu, 2020. "Research on Rewarding and Impact of Rewards on Performance," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 587-594, December.
    3. Elena Cristina Cernătescu & Andra-Nicoleta Ploscaru & Marian Cazacu, 2020. "Research on the Impact of Training and Personal Development on Individual and Organizational Performance," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 619-623, December.
    4. Gabriel Ioan AVRAMESCU, 2020. "Factors Contributing To Poor Hr Performance In Fiscal Administration," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(2), pages 193-204, November.
    5. Adrian Cosman & Sorin Tudor & Monica Logofătu, 2020. "The Impact of the Management Style on Effective and Efficient Management of the Public Institution," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 592-597, August.

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    More about this item

    Keywords

    management models; ISO 9001:2015; SL Annex; ISO 31000:2009; risk-based approach; financial services companies; risk assessment;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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