Electronic Theses and Dissertations (Masters/MBA)

Permanent URI for this collectionhttps://hdl.handle.net/10539/37942

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    Risk Culture and Risk Management within Gauteng Government Departments
    (University of the Witwatersrand, Johannesburg, 2024) Marota, Madiagane Rahab; Mazonde, Nomusa
    Regardless of the sector, organisations are faced with various risks, and risk culture has been identified as the key barrier to effective risk management. The financial crises exposed shortcomings in risk culture, as well as insufficient risk management systems and controls, resulting in substantial losses and institutional failures. The primary purpose of the study was to evaluate whether risk culture influences the implementation of risk management within the Gauteng Provincial Departments. The study employed a quantitative and positivist research methodology. Data was gathered utilising a cross- sectional approach through questionnaire. 81 cases were collected from senior management in various departments that were chosen. Cronbach's alpha was utilised as the appropriate measure for assessing reliability. The results showed that leadership support, communication, and accountability are the primary factors influencing effective risk management, whereas risk awareness and risk behaviour did not show a meaningful correlation. A robust risk culture is essential for effective risk management within an organisation, and it should be integrated into all departmental processes
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    The interdependence of the JSE All Share Index and the S&P 500 Index
    (University of the Witwatersrand, Johannesburg, 2024) Manyumwa, Tonderia; Odei-Mensah, Jones
    Purpose: This paper seeks to understand if such an association exists between these two markets in recent times and to examine the extent to which it exists if the association is present. Method: As markets become increasingly interconnected, it becomes imperative to constantly examine and monitor the evolving patterns of dependency. This entails exploring metrics such as correlation breakdowns, and other measures that capture the extent to which stock market comovements are affecting global investors. Therefore, the existence of strong interconnections and co-movements among international stock markets calls for continued monitoring and the studying of the patterns of interdependence, as this research will inform investors, policymakers, and financial institutions to better navigate the intricacies of global markets and make informed decisions to safeguard the general financial stability of the financial sector and optimize portfolio performance on a risk-adjusted basis (Moiseev and Popova, 2021). In this research paper, empirical evidence of international stock market interdependence has been further assessed in a way that has not been evident in the literature review as follows. This paper examines the interdependence of the Johannesburg Stock Exchange (JSE) with the US stock market, using a modified GARCH model called the Dynamic Conditional Correlation model. The analysis uses weekly log returns from January 2011 to December 2022, with data sourced from Bloomberg. Key Findings: The results indicate a strong interdependence between the two indices. Specifically, the DCC-GARCH model reveals that the previous period’s residual positions and volatility significantly influence the current period’s volatility for both indices. This indicates that global market shocks have a substantial impact on the South African market, diminishing the diversification benefits of including the S&P 500 in a South African portfolio. Recommendations: Given the strong interdependence, South African investors should consider exploring alternative international markets or asset classes to achieve effective diversification. Policymakers and financial institutions should also take into account the significant influence of global market dynamics on local markets when developing investment strategies and regulations
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    Combined Assurance and its Role in Organisational Performance: A Case Study on Risk Professionals’ Perspective in South Africa
    (University of the Witwatersrand, Johannesburg, 2023) Kekana, Lebogang Nkhokhola; Sieff, Grant
    South Africa has been in the spotlight for its poor governance practices even though various laws, regulations, and frameworks are in place to guide how business should be conducted. Oversights committees, especially the board of directors are tasked with the governance of risk and achievement of organisational goals. Combined assurance is used as one of the tools to promote efficient risk management and mitigate against poor control environment and governance processes. Regardless of legislation and governance frameworks providing direction and tasking the three lines of defense with clear assurance responsibilities, the South African public and private sectors are in shambles. This study aimed to understand combined assurance and its role on organisational performance from the second line of defense perspective. The impact of combined assurance on organisational performance, as well as the influence of combined assurance drivers and the three lines of defence on organisational performance has been assessed in this study. The research project followed a quantitative research design. Data was collected through a structured survey questionnaire using Qualtrics. The survey questionnaire was distributed to risk professionals within South African boundaries in both the public and private sector via e-mail.44 participants (37%) of the targeted 120 risk professional have responded to the survey. The study found that the alternative hypothesis being that effective combined assurance seems to contribute positively to organisational performance is accepted. In addition, the study found that the alternative hypothesis being that the drivers of combined assurance seem to be associated with positive organisational performance is accepted. The study further revealed that the alternative hypothesis being that effective three lines of defense contributes positively to organisational performance. The study contributed to the body of knowledge by providing the perspective of the second line of defence on combined assurance and how it impacts organisational performance
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    Combined Assurance and its Role in Organisational Performance: A Case Study on Risk Professionals’ Perspective in South Africa
    (University of the Witwatersrand, Johannesburg, 2023) Kekana, Lebogang Nkhokhola; Sieff, Grant
    South Africa has been in the spotlight for its poor governance practices even though various laws, regulations, and frameworks are in place to guide how business should be conducted. Oversights committees, especially the board of directors are tasked with the governance of risk and achievement of organisational goals. Combined assurance is used as one of the tools to promote efficient risk management and mitigate against poor control environment and governance processes. Regardless of legislation and governance frameworks providing direction and tasking the three lines of defense with clear assurance responsibilities, the South African public and private sectors are in shambles. This study aimed to understand combined assurance and its role on organisational performance from the second line of defense perspective. The impact of combined assurance on organisational performance, as well as the influence of combined assurance drivers and the three lines of defence on organisational performance has been assessed in this study. The research project followed a quantitative research design. Data was collected through a structured survey questionnaire using Qualtrics. The survey questionnaire was distributed to risk professionals within South African boundaries in both the public and private sector via e-mail.44 participants (37%) of the targeted 120 risk professional have responded to the survey. The study found that the alternative hypothesis being that effective combined assurance seems to contribute positively to organisational performance is accepted. In addition, the study found that the alternative hypothesis being that the drivers of combined assurance seem to be associated with positive organisational performance is accepted. The study further revealed that the alternative hypothesis being that effective three lines of defense contributes positively to organisational performance. The study contributed to the body of knowledge by providing the perspective of the second line of defence on combined assurance and how it impacts organisational performance.
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    Challenges of big data usage for risk management in a South African Bank
    (University of the Witwatersrand, Johannesburg, 2023) Mosiane , Boipelo; Ochara, Nixon
    Risk management is a critical component in the effective operation of corporations, particularly for the purpose of identifying, assessing, and mitigating potential risks associated with running a business. In recent years, the exponential growth of data, along with technological advancements, has opened new opportunities for organizations to enhance their risk management capabilities. Big data is said to be a game-changer that has the potential to completely alter how different industries conduct business. However, there are several difficulties in effectively employing big data in risk management processes. Using a qualitative research approach, this research report highlights the usage of big data in risk management, emphasizing the potential benefits, challenges, and critical considerations for successful adoption. The research findings revealed that big data can enhance risk identification accuracy, proactive risk mitigation, strategic decision-making, and overall organizational resilience. The challenges hindering the adoption of big data in risk management are addressed, including skill gaps, data quality, technology infrastructure, talent acquisition, and bureaucratic barriers. The study highlights issues preventing widespread integration of big data in the risk community, particularly data trust and collaboration barriers between risk and technology teams. The research report recommends that the bank creates a robust talent acquisition strategy for analytics experts and prioritize retaining them to safeguard data resources. It also suggests fostering a learning-friendly environment for big data topics through accessible certifications and learning programs. Additionally, the research report emphasizes the need for addressing data quality issues in risk management, proposing solutions like RPA to improve data capture processes and enhance data accuracy and trust.