Operational Risk Management
As a fully integrated risk practice, we have the size and capability to address all risk issues and deliver end-to-end solutions
Operational Risk is described by the Basel Committee on Banking Supervision as "the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. As such, operational risk captures business continuity plans, environmental risk, crisis management, process systems and operations risk, people related risks and health and safety, and information technology risks."
Operational Risk Management: Value
- Validating and improving the reliability and effectiveness of business operations and the operation of the risk management framework.
- Enhancement of risk-based decision-making and improving the risk management capability of staff.
- Greater confidence in the planning or delivery of a capital investment preventing delays and cost overruns.
- Enhance organisational capability in ensuring safety of staff.
Operational Risk Management: Core Services
- Enhanced Risk Strategies – Frameworks
- Enhanced Risk Performance
- Enhanced Risk Management Functions – Capabilities
Enhanced Risk Strategies – Frameworks
Create the right risk strategies to achieve the enterprises strategic aims and implements the optimum frameworks to ensure risk is appropriately managed.
Work Undertaken
- Development of Operational Risk Strategies
- Assessment, design and implementation of Operational Risk Management Frameworks
- Assessment, design and implementation of Operational risk Management Frameworks for regulatory capital and compliance purposes
- Assessment, design and implement of Operational Risk Profile and Assessment methodologies
- Assessment, design and implementation of Operational Risk Appetite
- Assessment, design and implementation of monitoring and reporting processes.
Enhanced Risk Performance
Putting words into action – delivering risk performance within agreed tolerances at the sharp end – day after day.
Work Undertaken
- Assessment, design and implementation of operational risk management mitigation approaches including policies, procedures and best practice guidance notes
- Assessment design and implementation of variance analysis, root cause investigations and rectification
- Control design and implementation
- Services to support Advanced Risk Management approach for regulatory capital purposes
- Operational risk capital reserving (non-banking)
- Data governance, data quality framework efficiency reviews
- People risk related services
- Crisis management advisory services
- Business continuity management services
- IT risk assessment and management, including IT risk benchmarking
- Information security services
- Technology resilience services
- Independent project advice, project risk assessment, project governance, risk management and reporting, assurance
- Occupational Health and Safety risk management services
- Environmental risk related services
- Compliance snd performance assessments completed on behalf of a regulator or law enforcement agency
- Insurance cover for operational loss support
Enhanced Risk Management Functions – Capabilities
Create the optimum organisational solutions and equips the enterprise with the right skills and capabilities to manage risk to achieve strategic aims.
Work Undertaken
- Assessment, design – implementation of Operational Risk Functions and Capability
- Interim management solutions: Operational Risk Officers and other professionals
- Operational Risk Management Training.
Example
- Supplied interim Program Director to lead enhancement of Operational Risk Framework.
Our Centres of Excellence
Our Core Services
Risk Framework
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