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Fiji Island Financial Monetary Authority
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Risk is the combination of several different factors including the possibility of a damaging event and after-effect of such an event. Once we understand both the eventuality of the event and its potential aftermath, we can begin to assess the risk and our response. Our risk management team follows the following steps:
iIdentifying risks before and as they happen
Monitoring the case after a risk has been identified
Limit or eliminate the risk

Identification of Risk

In the initial stages we make assessments according to the strict rule of law. We gather intelligence from a wide variety of sources and utilize many tactics as well. Visiting companies on location, sending mystery shoppers/investors and using the information provided by the company to their supervisor. We also periodically interview shareholders, board members and committee members.

Case Monitoring

Management provides regular reports to update management in order to ensure that risks are being dealt with properly and control methods are sufficient.

Mitigating or Managing Risk

Once we have identified and have properly monitored the risks, the risk must be neutralized. This is done by assessing the cost and benefit of using either regular or alternative tools to lower the risk to either the business or the market.

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Fiji Island Financial Monetary Authority

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