Managing operational risks

For many clients avoiding serious risk events and the pressure to comply with regulations are an important reason for developing company-wide operational risk management. This type of risk management depends on the relevant information being identified locally and then being analysed centrally. Operational risks can be permanently reduced through rigorous measures to identify and combat risk, where operational risk management is dependent upon a comprehensive evaluation of the solution being worked towards. Related topics, such as compliance, internal control system and business continuity management also have to be considered here.

COMIT solution in line with requirements

Using the evaluation as a starting point we develop the specific design and dimensioning of the operational risk solution drawing on best practice approaches. Our specialists are able to call upon many years’ consulting experience in the area of operational risks and are well equipped, with the help of a comprehensive range of services, to take steps to develop operational risk management efficiently. In this way the best possible solution is implemented tailored to the client’s needs.

Our approach to consulting enables a thorough investigation of existing risk management processes. In all, it helps to improve and raise the efficiency in the following areas:

• Operational excellent and quality management
• Damage limitation and risk reduction
• Reputation and image
• Risk-adjusted pricing
• Internal control system
• Shareholder value
• Business continuity management and emergency planning
• Compliance with and implementation of regulatory conditions
• Key risk indicators

Technical implementation

The standard software OpRisk Suite by RCS that we use comprehensively caters for every aspect of managing operational risks. The successful use of the OpRisk Suite with local and global financial institutions and insurance companies pays testament to the software’s considerable flexibility and readiness for market.