The aftermath of the 2008 global financial meltdown and subsequent organisation failures have highlighted the importance of Operational Risk Management, and it’s potential impact on Organisations. Subsequent, increased regulations from regulators such as Central Banks, Listing Exchanges etc have placed greater emphasis on ensuring there are adequate processes and systems to identify, monitor and mitigate operational risks within Organisations. This OpRisk approach needs to be a strategic approach to create a fully integrated information architecture to accumulate and aggregate risks for effective analysis.

How We Can Help

Risk comes from uncertainty in reaching your objectives. Find the perfect balance by getting a clear picture of your operational risk and opportunities. Building an effective Operational Risk Management (ORM) Framework involves having an integrated, holistic process, involving the use of technology to inculcate and sustain permanent culture change within the organisation. Ensuring risk management is embedded in a practical manner in all key areas within the organisation is critical to ensuring there is a systematic manner in which business decisions are made.

Our Areas of Expertise Include:

  • Building awareness of ORM and ensuring it is in line with the risk appetite of the Organisation.
  • Assist automated OpRisk reporting submission to regulators such as Bank Negara Malaysia (BNM) or the Securities Commission. We are able to tailor the OpRisk Submission for almost any scenario.
  • Assess your risk appetite and translating that into a Risk Policy and Process.
  • Developing an Operational risk profile of your organisation, providing for facilitated issues analysis. This covers the critical area of Risk & Control Self-Assessment (RCSA), Key Risk Indicator (KRI) tracking, Loss Event Reporting and Control Issue Management process.
  • Design, development and implementation of Operational Risk Reporting templates & Directorial/ Management Dashboards.
  • Quality Assurance/Health Check and benchmark of existing ORM programs against best practices.

Q-RADAR ERM Software Implementation

Critical to the implementation is the automation of the Operational Risk Management through the Q-RADAR System software. Click here to find out how the Q-RADAR supports the ORM Process.

 

For further information or to find out how Tricor Roots Consulting can help to enhance your Enterprise Risk Management, please contact us.