risk management disasters

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Recommended: An essay on disaster management

Case study information

The case study will be prepared on a group basis and students will be required to apply theory covered in class to a real-life situation.

The topic for the case study is:

Identify and discuss any four recent risk management disasters (less than 15 years old) relating to the use of derivatives or financial innovation. Your write-up should clearly:

· describe the steps that led to each disaster,

· discuss the financial risk management lessons that can be learned from these disasters, and

· examine why these disasters recur despite lessons learned from previous disasters.

Case Studies must be submitted by 25th April 2014 to Mrs. S Naidoo’s office, where a register will be maintained. Late submissions will be penalized. Your submission should not exceed five typed (5) pages, typed using the Times New Roman font 12, with 1.5 line spacing. All diagrams and graphs must be included in the main body of the text. You may include as many relevant appendices as deemed necessary. You will be required to make a group presentation of the case study, which will contribute towards your case study mark.

All sources must be correctly referenced according to the Harvard referencing method.

Each group should have a minimum of seven (7) members and a maximum of ten (10) members.

CHINA AVIATION OIL :

China Aviation Oil (Singapore) Corporation Ltd (CAO) is the Singapore subsidiary of China Aviation Oil (The Professional Risk Managers, 2008). The company specializes in procurement & trading of oil and at the time monopolized the jet fuel industry in China. CAO drew attention to itself in 2005 when the CEO at the time, Chen Juilin was involved in a trading scandal which led to estimated losses of $550 mil...

... middle of paper ...

...There are always traders who are willing to face the risk of imprisonment and/or paying a fine in order to earn that extra profit. The potential earnings are so great that the temptation is often too great to avoid and even pushes some people to contradict their morals and beliefs.

END TEXT REFERENCING

David M. Currie (2008). Handbook of fraud, scams and swindles. USA: CRC Press.

Alan N. Peachey (2006). Great financial disasters of our time. 3rd ed. USA

PwC. (2005). PwC's investigation into oil trading losses. Available: http://www.caosco.com. Last accessed 16th April 2014

Deloitte. (2006). The China Aviation Oil Debacle. Available: http://www.deloitte.com/view/en_US/us/Insights/Browse-by-Content-Type/podcasts/7905453ae710e110VgnVCM100000ba42f00aRCRD.htm. Last accessed 13th 20th April 2014.

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