Records management and risk management at Kenya Commercial Bank Limited, Nairobi

Abstract

Background: This paper reported empirical research findings of an MPhil in Information Sciences (Records and Archives Management) study conducted at Moi University in Eldoret, Kenya between September 2007 and July 2009.

Objectives: The aim of the study was to investigate records management and risk management at Kenya Commercial Bank (KCB) Ltd, in the Nairobi area and propose recommendations to enhance the functions of records and risk management at KCB. The specific objectives of the study were to, (1) establish the nature and type of risks to which KCB is exposed, (2) conduct business process analysis and identify the records generated by KCB, (3) establish the extent to which records management is emphasised within KCB as a tool to managing risk, (4) identify which vital records of KCB need protection because of their nature and value to the bank and (5) make recommendations to enhance current records management practices to support the function of risk management in KCB.

Method: The study was qualitative. Data were collected through face-to-face interviews. The theoretical framework of the study involved triangulation of the records continuum model by Frank Upward (1980) and the integrated risk management model by the Government of Canada (2000).

Results: The key findings of the study were, (1) KCB is exposed to a wide range of risks by virtue of its business, (2) KCB generates a lot of records in the course of its business activities and (3) there are inadequate records management practices and systems, the lack of which undermines the risk management function.

Conclusion: The findings of this study have revealed the need to strengthen records management as a critical success factor in risk mitigation within KCB and, by extension, the Kenyan banking industry. A records management model was proposed to guide the management of records within an enterprise-wide risk management framework in the bank.