Risk management is central to modern business management. Companies are constantly faced with risks that threaten their survival. For an entity like a microfinance or savings and loans company, there are certain fundamental risks that confronts the business every day. These risks can be broadly categorised into the following: ⦁ Financial Risks ⦁ Operational Risks and ⦁ Strategic Risks. Financial Risks can further be divided into Credit, Liquidity and Marketing Risks. Operational Risks can also be divided into Transaction, Fraud (Integrity) and Legal and Compliance Risks whereas Strategic risks can be broken down into Government and External Business Risks. For the purpose of this write up, the focus area will be largely Credit, Liquidity, Fraud (Integrity) as well as Legal and Compliance Risks. Some additional areas that will also be looked at include security for employers (owners) and employees of businesses, security for property such as buildings and...