Operational Risk
Operational risks are pervasive across the enterprise and inherent in the performance of each activity, process and procedure. In reinforcing performance excellence, their prevention and mitigation is vital to preserve an organization’s efficiency and reputation.
- An agile operational risk framework provides the imperative ability to identify, quantify and mitigate operational risk impacts.
- Evaluating strategy scenarios representing economic challenges and stress, are essential to highlight conflicts arising from evolving operational risks.
- Optimising resources across competing priorities may present compelling choices across operational risks with diverse loss potential.
- We secure essential independent assurance for Board/CXO’s on the adequacy and effectiveness of Operational Risk Framework, to drive operational efficiency and mitigate operational risks, by ensuring that:
- Governance of Operational Risk is adequately encapsulated within internal policies, operating procedures and reporting systems.
- Operational Risk framework with its operating ‘three lines of defense’ model is compatible with the enterprise business strategy.
- There is a system of internal controls & checks in active operation and it is adequate for the prevention, detection, mitigation and remediation of Operational Risks.
- Effectiveness of review, challenge and remediation role of Operational Risk achieves the identification and mapping of all operational risks relevant to each business.
- Our expertise spans the entire spectrum of risks and engages all dimensions of the operational risk infrastructure including:
- Governance reviews mandated by Boards/Executive Management.
- Preparation for regulatory visits and audit inspections.
- Resolution of regulatory and audit findings.
- Operational Risk Framework Design & Review.
- Internal Control Systems Evaluation & Reporting.
- Operational Risk Capital Assessment – ICAAP, with Scenario Analysis & Stress Testing .
- Coverage of our operational risk reviews can be tailored to any of the following scenarios:
- Governance reviews mandated by Boards/Executive Management.
- Preparation for regulatory visits and audit inspections.
- Resolution of regulatory and audit findings.
- Business Transformation programs – pre-implementation reviews or post-implementation validations.
- New business lines, business mergers and acquisitions, business fraud & loss analysis, etc.
