This new article from Chase Cooper looks at how risk managers should think differently about the challenges operational risk faces as a discipline, and how technology can be used to solve these challenges. It proposes that while it may be
The new article from Chase Cooper, Controls Appetite – The Other Half of the Risk Framework, defines the concept of control appetite and outlines the benefits of a control appetite for the overall risk framework as well as organizational decision-making.
The new article from Chase Cooper, Net Risk – Transforming Risk Intelligence for the Board and C-Suite, explains the kinds of management intelligence that can be gained from taking a net risk approach. To read the article, fill out the form
The fundamental base of any firm’s risk culture is the quality of the training its risk management team receives – including members of the operational risk team. Operational risk is a complex, developing area within the financial services industry. Change
The deadline for implementation of the General Data Protection Regulation (GDPR) – 25 May – is fast approaching. While much of the focus may be on achieving basic compliance at the moment, over the medium-term operational risk executives should be
Operational risk has always been different. Almost from that start, the financial services industry worked with regulators in an unprecedented collaboration. They came together to create a framework that helped firms improve their operational performance and risk management – as
Your Risk and Control Self-Assessment (RCSA) should ideally reflect your real Risk Profile, but there are reasons why this may not be the case. Your RCSA will reflect your risk profile only if management have been involved in the process.
The industry has long been challenged with implementing the concept of operational risk stress testing and operational risk scenario analysis. In practice, these two methods of extreme risk analysis should be linked and used as a combined approach to investigating
Operational risk and control assessments are often the first process that a firm uses to conduct operational risk management. Frequently the assessment is carried out without an operational risk management framework in place and without much thought being given to
Good risk governance is required by the FSA through its Principles for Business (Principle 3). The European Union, through its draft of the Capital Requirements Directive also requires robust governance arrangements in relation to risk management. There are also many