Integral risk management framework, a necessary element in the financial cooperative sector

Abstract

The research projects to demonstrate how essential it is to have a tool that regulates work in savings and credit cooperatives, such as the Comprehensive Risk Management Framework. This is a document that brings together strategies, policies, practices and organizational structure that will outline the path for adequate risk management, which are conceptualized as the probability of an unscheduled event occurring, that is, they must be identified and managed appropriately. through the use of company resources. For this, the following models were used: first, the COSO systems 1992, 2004 and 2013, as common control tools to safeguard assets and resources; second, the COSO ERM 2017 model as a business strategy based on plans whose objective is to identify, evaluate and prepare for any risk that may affect, both positively and negatively, the operations and objectives of the organization. In addition, an investigation will be applied based on our experience in the popular and solidarity financial sector, which has allowed us to identify the three study cases of this investigation. In such a way, that the results found in the investigation will serve as support to counteract an existing weakness in the cooperative sector, such as the ignorance of the existence of the regulations that regulate cooperatives, as well as the lack of their application that when final impact on the direct involvement of management to confront and mitigate risks, during the performance and execution of operational strategies.

URL: https://revistas.uta.edu.ec/erevista/index.php/bcoyu/article/view/1463