QUESTION $1(100$ MARKS$)$

Considering the case study provided, compile a report in which you respond to the following issues highlighted using any secondary literature available and the module resources reviewed during the semester.

$1\mathrm{.}1$With reference to relevant information, critically discuss how the digital revolution referred to in the case study can potentially impact risk modelling. Make use of relevant examples.

$(20$

Marks$)$

$1\mathrm{.}2$ In light of the case study, elucidate the concept of risk maturity and analyze the key factors contributing to the diversity in levels of risk maturity among various organisations. Utilize pertinent examples to illustrate your explanation.

$(20$

Marks$)$

$1\mathrm{.}3$ As suggested in the case study, $$nearly all organizations need to refresh and strengthen their approach to risk management and modelling to be better prepared for the next normal$.$ Demonstrate the variables and or factors that need to be considered when designing accurate and realistic risk models.

$(20$

Marks$)$

$1\mathrm{.}4$ As indicated in the case study, there is an increase in the levels of risk that organisations are exposed to and thus there is a need for greater emphasis on accurately identifying and assessing risks. Considering this demonstrate how cognitive biases can potentially influence this.

$(20$

Marks$)$

$1\mathrm{.}5$ Nearly all organizations need to refresh and strengthen their approach to risk management to be better prepared for the next normal. Evaluate how a sensitivity driven risk modelling design is considered appropriate for the next normal. Make use of relevant examples

$(20$

Marks$)$