Operational risk management
You can never avoid risk completely, regardless of the industry you work in. Whether you’re dealing with new regulations or data disclosures, there are always things to consider. It’s no wonder then that Operational Risk Management is becoming increasingly more important to higher management. Often compelled by the obligation to comply with corporate governance regulation, but also by more general changes in the market. The question of how to prevent unexpected issues and how to monitor the changing landscape is one that often takes centre stage.
Part of Enterprise Risk Management
Are you (partially) responsible for Operational Risk Management? If so, then your main goal should be clear: clarify and mitigate operation risk as well as possible. Operational Risk Management is at least partially an aspect of Enterprise Risk Management but differs from financial risk management. Do you need (temporary) knowledge or expertise to bolster your organisation? BrightStone Group supports organisations in three key areas of this challenging discipline.
Risk management frameworks
BrightStone Group supports organisations in their risk management by developing and monitoring risk management frameworks. Our consultants can develop these frameworks and integrate them into your organisation’s business operations. Click here to learn more about risk management framework consulting. Selecting and updating your framework with regard to new legislation is something we can support your organisation in.
Digital dashboarding
An effective risk management framework is linked to your organisation’s strategy and risk tolerance. It is also important to find out which systems, tools and work best in your organisation. This means you need to develop a toolbox with tools, processes and dashboards to monitor and maintain your risk framework.
BrightStone Group supports organisations in developing these tools by working with multidisciplinary teams. These teams don’t just include risk experts, but also data engineers and information analysts that support your organisation in its digital dashboarding. A well-integrated data risk management database with a clear dashboard interface provides managers with real-time risk visibility. This allows you to perform all necessary assessments and mitigate risk optimally.
Risk Self Assessments (RSA)
There’s no denying the fact that risk management is of the utmost importance in reaching your goals and executing your strategy. A Risk Self Assessment (RSA) helps you to get clear on these risks, as well as your assessments and status in regard to laws and regulations. This applies to the internal organisation, but also to organisations and individuals you work with.
BrightStone Group specialises in these assessments. We can tailor your Risk Self Assessments to fit your organisation seamlessly. Whether it is an assessment in the form of a workshop, a questionnaire or a combination of both, our risk consultants will get you the best results possible. Together, we can set up your Operational Risk Management as effectively and efficiently as possible.
How can we help?
What aspects of Operational Risk Management can our experts help you with? Reach out to us to find out what we can do for your organisation.
Prefer to reach out to us directly? Feel free to give us a call or send us an email!