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    1. Introduction
    The big four commercial bank in Ireland comes under the Allied Irish Banks (AIB) that have generated their entire corporate structure of working and personal services to the customers. The Allied Irish Bank is one of the prominent multinational banking organisations, with the said bank having a significant presence in the North American and European markets. Some of the main strategies and tactics included the acquisition of substantial stakes in the First Maryland Bancorp organisation as well as the carrying out of the cash merger of First Maryland into a subsidiary which is wholly owned. Some of the main problems which the reviewed banking organisation experienced included the decision on the part of the treasury funds manager to not replace the trading manager (on account of the constraints of the budget) and hiding the losses in the following months. Fabrication of trade settlements and forging of the necessary documents related to the same led to bogus transactions and severe losses for the bank in question. Herein, the following study is about the analysis of the same and the discussions regarding the related factors.       
    a) The AIB/All first failure 

    Report has conducted that the focused approach for the banking and the AIB trading related scandal create the management purposes and then operation structure has faced different types of problems. Several resignation and the management related problems create several problems for the entire thing and it has become quite a tough issue to handle things in a proper way. Cooperation management and the collaboration purposes of AIB create problematic issues for the entire thing. The board of directors and the managers failed in different criteria to manage the process in a systematic manner. Controlling and monitor procedure generate different failed approaches that recognize some scale of losses. The operation administrator and the financial analysis has shown that there is a huge problematic zone for the entire thing and both the internal and external purposes generate different problems for the banking sector because some of the internal controls and other structures (Aven, 2016). 
    b) Key reasons of failure 

    Several manipulations of the principle measurements and their stated application has created a major drawback for the organization and the input calculation of the entire thing failed massively. The audit control process and the system monitoring is the another problem that AIB has faced and deliberate manipulation of the different work spreadsheets create various issues for the management. Risk process has imbibed in the different management related monitoring and lack of understanding for the business follow up create different problems that put a direct influence to the entire thing. Corroborative records and the corrupted controls over different work purposes developed many issues for the entire organization, later that has taken care by the treasury risk control personnel. Some of the hypothetical foreign exchange criteria and their work related assessment result different profit and loss that increases the volatility rates. The statistical uncertainty and the outcome for the later operation and management related approaches generate different problems for the further work criteria and their engagement. Obtained information and specified implication measure for the different projections generate further transaction related problems, with the forging of the documents and the records pertaining to the losses of the organisation (as well as hiding them) leading to further complications in this aspect.
    2. Assessment of risk
    Assessment of the different risk factors that observed by AIB can get to solve by the initiation of higher management and they can create the best perspective for the future work criteria and their systematic application for the entire thing. 
    a) Identification of key risks 
    Some of the key risks that generated in the management along with the system related work that hamper entire profit and loss structure need to process in a methodical way. Mitigation of the several risks need to solve by the help of proper understanding of the same and create a managed application for the same. The copyright materials and the legal responsibility for the work dissemination between different departments need to present in a particular way so that the entire process can follow up the risk management concepts. Expectations and the risk personnel experience take up the threat and opportunity based criteria so these problems can be mitigated and focus to the further work initiation (Deresky, 2017). The regulatory imbalances and the corporate failures increase corruption and forgery for the entire structure and action related specification adversely affect the overall objectives of AIB based on different scenarios. Value at the risk management and the information based work criteria focus to the calculations and transaction based issues. 
    b) Classification of risks in categories by using frames and models 
    Some of the uncertain conditions and their applied structure in the market generate the problematic structure for the overall organization and they have faced many issues to move forward to the market. 

    General classification of risks generate from the pure, speculative, fundamental, particular and financial occurred from different criteria and the organization need to focus to the purposes in order to mitigate the entire thing. 

    The risks factors and their specified implications to the different criteria generate the factored basis and other progressive basis for the entire thing that the organization focuses to minimize and then create the best approaches for the later work purposes (Bucero and Englund, 2015). Another risk related classification that can applied in this AIB related case is-

    The main risks can be classified through the implementation of certain frameworks such as LILAC framework and the Coso Cube Framework. The LILAC Framework is generally implemented for the purposes of ensuring the determination of the overall quality of a situation or a particular circumstance. The risks are classified on the basis of the level of impacts that they have on the expectations of the involved entities (in this case, the employees and the beneficiaries of the services provided by the AIB), with the risks leading to the deterioration of the conditions in an immense manner (but having low chances of actually happening) being decreed as low expectations risks (Deresky, 2017). Similarly, those which have high chances of happening and actually can cause a certain magnitude of damage to the reviewed organisation can be classified as high expectation risks.  The implementation of the Coso Cube framework (also known as the source block chain framework) can also help in the classification of the risks in a certain manner, with the main method of classification being the risks leading to the mitigation of a block chain method of functioning and risks which do not lead to the advent of the same (Deresky, 2017).

    The increase in the aspect of corruption and forgery has led to the advent of severe losses for the organisation in question already. The overall objectives of AIB in different scenarios have been affected in a negative manner as well, with the most dangerous situation in question being the presence and increasing advent of more risks. The risk management and the information based aspects have to be considered carefully for the overall mitigation of the threats posed by the risks (by means of actually classifying them and decreeing the treats that the observed risks pose), with a failure in the acknowledgement of the same leading to further problems for organisations such as the AIB (Deresky, 2017). 
    3. Risk response 
    Risk response and their application to the different operational criteria and further inclusion of the different work related projections can cater the systematic basis for the further development and assistances of the other work preferences in a particular way. It is intended to provide some of the best purposes in order to manage risk criteria in AIB. The audit committee and the senior management team of AIB is the main responsible person who is in the authority of generating the best suitable purposes along with an amiable circumstances for the entire thing in order to manage and progress further for other work criteria. The consistent guidance and the management related work specification offer to create the management of the risk assessment and focusing further for the respective areas for the development criteria. Risks need to get the proper responsive attitude then it can able to create the best circumstances for the later things in a particular way (Fihn et al. 2014). 
    a) Review of AIB/Allfirst responded to its risk exposure 

    while AIB has faced many of the management, transaction, internal calculations and external working structure related issues so it need to specify the risk formation in a systematic way. The later development and growth prospect including the satisfactory criteria for the Scottish government helps and support will generate while structure the entire thing in a systematic manner. Identification and management of different risks factor can save the agencies and then the staffs participate for the managed program and the applied basis for the risk respondent structure in a methodical way. The effective management scope and the formative structure for the various responsibilities need to ensure and suggest for the later development and growth prospect (Khan and Hashemi, 2017). The risk exposure factors in AIB have faced the different implications and all the corporate risks get measured in a specific way so that the responsible staffs can able to handle the entire process. 
    b) Identification of any gaps and shortfalls in its approach by critically applying models and frameworks designed to measure and model different business risks 

    The business risks that get to focus within AIB effectively incorporate some of the particular areas and the different agencies and their staffs are creating the proper background for the further development prospect. Ensuring the corporate risk specification and the risk registers take help from the audit committee in relation to the different challenges that get to face by AIB. To provide support to the SMT in the effective development procedure, implementation and review of the corporate risk register factor and arrange the risk discussion process that develop in a different criteria for the next coming year (Bucero and Englund 2015). 
    The gaps and shortfalls within the organization need to mitigate in a specific manner so that the entire thing can able to structure with a formative consideration. The risk format or the uncertainty in the different basis need to take up the policy making purposes by the assistance of different committee those are present in AIB. With the implication of committee decisions, internal and external stakeholder relation, financial construction, demographic changes, preventive effects, staff implications and the cost of training and development purposes need to focus with the better acknowledgement (McPherson and Pincus, 2017). As the calculative portion along with the transaction has faced different issues so risk management need to closely associate with the required control factor and the action related basis (Falkner and Hiebl, 2015). The systematic process application and examine the different objectives need to correlate with the information security structure and the maintenance of physical assets that can put an effective impact to the entire thing. 
    Impact and likelihood of the risk assessment in 5X5 matrix 
    The usage of the LILAC and the Coso Cube framework have also led to the determination of the overall magnitude of the risks which the current issues have inflicted on the working and functioning methodology of the organisation in question. The expectations of the mitigation of the risks in most of the observed cases (such as the implementation of the forged documents and the initiation of forgery in certain observations and results for the sake of hiding losses) are noted to be fairly high, with the problems caused as a result of the same being fairly high as well. In the case of the LILAC framework implementation, one of the main results gained are as follows:
    The Coso Cube Framework also decreed the measurement of the main issues as potential factors of risk, with the main points of the determination of the same leading to the gain of a greater degree of understanding regarding the dangers posed by the present issues of the reviewed organisation. The main points of risk measurement in this regard are whether the issue in this aspect manages to block the implementation of block chain technological and strategic aspects or not. Collaboration with block chain communities can indeed be disrupted upon the presence of forged records (especially to hide losses), as the inaccurate results and continuous organisational losses can lead to long-term organisational problems and functioning inabilities.

    Figure: Main Features of the Coso Cube Framework
    (Source: McPherson and Pincus, 2017) 
    The fact that the five main components of the Coso Cube Framework such as the control of the environment, ability to assess the risks, degree of control over the activities, information (and communication) and monitoring are mitigated in case of document forgery, corruption and results manipulation is an indication of the high risks of the said issues for the organisation in question. 
    c) Highlight of any relevant aspects of Risk governance and regulatory risk 
    Corporate governance and the assessment of several risks factors create the foundation for the further effective and efficient implication of things that cater the best perspective for the methodical application for the entire thing. Some of the relevant aspect of risk factors incorporates-
    Strategic practices and future better implications of different work possibilities 
    Setting up better reviews and structure the entire procedure 
    Handle any of the shortcomings in a better way 
    Checking up adequacy and managing the existed and future resources 
    Affect the management with a suitable prospect 
    Better compensation structure and consider the risk practices in a particular manner 
    4. Findings and conclusions 
    a) Summaries the key points that explain why and how AIB/Allfirst failed from a risk management perspective 
    AIB failed from the risk management perspective for several reasons like- the adequacy in the calculations, improper transformation of system and essential information and lately recognition of several problems. Some of the key weak structure regarding the control process has tended to generate different issues. Investigation purposes was not correct and tax loss has shown in this matter, mostly it has resulted from the Rusnak's fraud. Some of the fictitious trades and the absence of the additional unreported management purposes face different problems. The unqualified opinion and the financial purposes that incorporate some of the management related losses that AIB failed to solve. 
    b) Analyses synthesize and evaluate the data to establish solutions 
    Several collected data from the organization has shown that they need to cater the effective assessment for the reasonable purposes and the applied structure for the trade purposes. All the information get validated and unqualified opinion on the different management related structure get processed in order to collect all the financial statements that incorporate both profit and loss (Zhou et al. 2015). 
    AIB promptly estimate losses and inform the same to the different market 
    The Group has recapitalized its US affiliate to convene the capital ratios connected with "well capitalized" status and the focused approach cater for the same 
    The Group has also been attentive in its labors to ensure the continued strength from a liquidity perspective of both Allfirst and AIB
    Recommendations and review structure get made in this prospect in order to obtain the information and counsel things 
    c) Make recommendations to minimize the possibility of such failures happening in the future
    The happenings need to get structure in a proper way so that the organization can able to focus to the development and growth prospect in a systematic way. The complete risk resistors and determination of the appropriate suggestion for each of the risk need to present so that the managed submission can able to implement in a good way. In order to manage risks the promotion of environment and managing all the business risks in a particular way and production, maintaining and reviewing all the work structure incorporate the branch risk registers. All the feedback and review need to take in a particular way so that the updated status gets maintained for the future purposes. The management related structure need to be proper and particular so that the entire thing can cater the better continuity for the organized basis.