The Intersection between Security and Risk Management - Case Study Example

Intersection between Security and Risk Management Name Institution Introduction: Risk management entails a process focused on identifying, analysing and dealing with any form of misfortunes related to an organization. This also involves setting up of control measures to minimize uncertainties or establishing of models and a range of methods to effectively react to such cases. On the other hand, security refers to the state of safety from any kind of harm or danger. It provides a sense of protection by separating the community, nation, organization or any important asset from threat. Security may be categorized in different classes such as physical, food, financial, national and information security among others. It is true that security upholders in Australia and around the world have taken the approach of risk management for efficient performance. It is also true that there exists an intersection between security and risk management. Physical Security: This refers to different security approaches labelled towards restricting access to certain people, resources and facilities. It incorporates the use of security guards, CCTV cameras and protective barriers among others. Most shopping malls and streets in major towns like Sydney and Queensland in Australia have many locations installed with CCTV cameras and protective barriers (Burke, 2008). The owners of residential estates, large malls, hotels and other institutions visited by huge crowds employ security guards from various security firms to stand at the entrance with metal detectors; to frisk the incoming population. The aspect of risk management steps in in the sense that all these security measures are put in place so as to avoid any uncertainties in the various places. For instance, the security guards are able to identify dangerous persons with guns, grenades and other explosives using the metal detector devices. The security guards stationed at the Australian house of national assembly may also prevent any attempts by unauthorised people from entering the house during parliament sessions. Protective fences are also made strong enough (some are even made tall with razor or electrified) to prevent either sneaking in or forceful entrance by illegal persons (Talbot, & Jakeman, 2013). These measures, therefore, confirm their ability to either prevent a risk or react appropriately when one arises thus risk management techniques in providing security. Food security: This refers to both supply and access of food by members of the community. It also refers to availability of good and healthy food in the community in question. The reverse of any of these (enough supply, access and good food) implies food insecurity, which is a great catastrophe in itself. A range of programs have been put in place within Australia to ensure enough food security for the entire nation (Palgrave Connect et al, 2014). The community kitchen pilot project located in Frankston, Victoria aims at boosting food security among participants by equipping them with necessary knowledge and skills, and at the same time fighting social isolation. This gives a great opportunity to all categories of people including the young and the old, indigenous and the migrant individuals since they are able to participate and acquire the necessary knowledge. Australia also invests in efforts from overseas to boost agriculture and food production through the AusAID (Australian Agency for International Development) and ACIAR (the Australian Centre for International Agricultural Research). Agricultural chemicals and the nanotechnology are also integrated in agriculture to uphold the food security levels in Australia (Farmar-Bowers, Higgins & Millar, 2013). All these are significant preventive measures towards averting the risk of food insecurity from occurring in Australia. Financial Security: This mainly encompasses any types of financial valuables that are tradable. They include equities like stocks, debts such as banknotes, debentures and bonds and derivative securities like swaps, futures, options and forwards. The issuer issues the security while the country policy states the characteristics of a security (Publishing, O. E. C. D. 2010). Banks and other loaning institutions in Australia and other nations around the world give loans to various people with such requests on the condition that they are able and willing to repay back within the stipulated time, and with the required interests. A good example is the HSBC bank of Australia, which currently gives home loans of $150,000 for a period of up to 25 years while charging an interest rate of up to 5 percent per annum additional to the advertised rate (Bakker & Kloosterhof, 2010). To ensure proper protection against loan defaulters, the banks go for plan B to ensure they do not lose their assets thereafter. That is why most of them ask for collateral such as car logbooks, house and land ownership documents among others. These act as real assurance to the loaning institutions that their money will be paid back in due time, and even if not, they still do not have anything to lose. This is a clear description of risk management schemes applied in ensuring financial security, the risk in question being the possibility to lose assets in case a client fails to repay the loan. National Security: This mainly lies in the provision of the government and the parliament to ensure protection of everyone and everything within its area of rule against any forms of attacks. This may include employment of various power projections such as political, military, diplomacy and economic power among many others (Weiss, Thurbon & Mathews, 2007). The Australian Security Intelligence Organization (ASIO) was established by the government of Australia under the parent agency of the attorney general’s office; to provide the country with national security through reacting to matters such as foreign interference, sabotage, espionage, politically motivated violence and any attacks geared towards the country’s defence system. Its headquarters has newly been established in the Parliamentary triangle in Canberra from where most of its operations are planned. There also exists other government entities such as the National Security Committee of Cabinet (NSC), which is a cabinet committee that makes important decisions on defence matters, intelligence and national security issues. Another entity is the Secretaries Committee on National Security – a senior interdepartmental committee, which supports the National Security Committee (Smith, 1997). All these agencies are geared towards ensuring a smooth run in the national response, and appropriate responses in case of any threats. This is what entails risk management techniques. Information Security: Refers to protection of information (physical: written, verbal or electronic) from use, access, modification or disruption by any unauthorised person. Information security may be categorized into various classes including information assurance, which deals with prevention of information loss during unfortunate occurrences such as server malfunction, natural catastrophes or physical theft. The other category is that of IT security, which mainly deals with security pointed towards technology especially relating to cyberattacks (In Wang, In Pieprzyk & In Varadharajan, 2004). The information system is normally faced with various forms of threats, which ranges from identity theft, extortion, equipment or intellectual property theft to software attacks. Most if not all of the government-based websites in Australia are well protected by strong firewalls to mitigate against harking or any other forms of cyberattacks. These websites include ministries’ websites, Australian police and military websites. Only the administrators of such websites are allowed to make alterations of the information posted on these websites or even post new information through restricted login procedures (Waters et al, 2008). In case of any losses involving vital information, IT experts are usually called to help retrieve the lost data. Hard copy files are also usually kept in office shelves under careful protection of the authorized personnel. These are significant risk management techniques employed to ensure that no substantial information is lost or tampered with, and even if it is lost by any chance, then measures are put in place to retrieve the same information. International Security: This involves precautionary measures taken by international organization or unions to provide mutual safety and security within their members. These measures may be in form of international treaties, military actions, conventions and diplomatic agreements. Through these, a country secures backup and support from the countries involved during international attacks and other according to stipulations in the code of agreement. Australia has established a number of bilateral relationships with various countries especially those involved in its strategic and economic affairs. These countries together with Australia work together for their common interests and also to deal with common challenges (Tazreiter et al, 2013). The countries involved with Australia includes the United States of America, which helps in the broad fields of international security and economic affairs through the ANZUS treaty that was signed in 1951 thus binding the countries in question to work together on security and military aspects. North Asia plays a key role in ensuring Australia’s security and economic prosperity as it accounts for over half of exports from Australia. Japan also share values relating to international security with Australia, where they work together to establish new partnership on security matters such as counter-proliferation and counter-tourism. This agreement was sealed in 2007 during the joint security declaration, and in March 2011, Australia helped japan curb the issues of earthquake and tsunami attacks (Tow & Kersten, 2012). It is rather obvious that having good international relationships is a proper precaution act towards ensuring that there is enough backup and assistance during attacks and any disaster outbreaks. Environmental Security: This mainly addresses any issues that may affect the environment negatively hence threatening the national security. These may include transnational problems (climatic changes, deforestation and loss of biodiversity), resource problems (water scarcity, agricultural failure and little availability of land due to overpopulation) and warfare threatening outcomes (fields and resource destruction and forest defoliation). The government therefore ought to put a number of measures to prevent destruction of the environmental features, and to come up with possible schemes of counterattacking in case any of the aspects of the environment are destroyed. These aspects may be either natural or unnatural. The Queensland and the entire Australian government are keenly working towards management and protection of the Great Barrier Reef through a $200million worth of investment annually towards the health of the reef. Australia established a reef protection agency in 1975: Great Barrier Reef Marine Authority, to ensure sustainability of the reef. It also signed a joint agreement with the Queensland government in 1979 and cooperatively agreed to protect the reef with other sectors such as tourism and agriculture which have benefited on the reef for over 150 years. The Australian government has also come up with the Reef 2050 long-term sustainability plan (Curtis, 2011). On the take of global warming, Australia has establish partnerships with other nations such as Japan, United States of America, China and India (Randall, 2008), which greatly contributes to the world’s economy and energy use to ensure common effort in expanding markets for cleaner energy sources and proper technologies (NATO, 2011). Most of these measures are geared towards ways of avoiding environmental pollution and destruction, which in one way or another stand as significant risk management techniques. Conclusion: The matter of security is indeed a vital aspect in any country’s economic stability and development and should thus be given special attention at all times. It is the duty of all citizens and the government to ensure provision safety and protection of the community from threats and harm. From the discussion above, it is quite clear that security encompasses all aspects of life including environmental, international, information, national, financial food and physical and so on. All these are focussed by various challenges, threats and risks in one way or another at different times. This means that a number of measures have to be put in place by the responsible individuals to ensure avoidance of harm, protection from harmful conditions and people and appropriate and effective response measures in case of calamities, accidents and attacks. Most security personnel and organizations are seen to opt for risk management techniques in their attempts to uphold security and conventionally fight against insecurity within their vicinity. This is true considering the various precautionary measures put in place for these purposes. A great deal of these techniques seem to work well, and should hence be upheld for a better living world. References: Tow, W. T., & Kersten, R. (2012). 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Tazreiter, C., Tham, S. Y., & Palgrave Connect (Online service). (2013). Globalization and social transformation in the Asia-Pacific: The Australian and Malayasian experience. Read More