Operational

Creating an Effective Vendor Risk Management Program

Regulations including Basel II, SOX, PCI-DSS, HIPAA, GLBA and FFIEC guidelines, among others, mandate that risk-management policies extend to third-party vendors. There are additional motivations to assess third-party risk, including protecting a company’s reputation from being damaged by another company’s actions.…

Costs of Operational Risk Mismanagement

Causes of Operational Risk The Basel Committee on Banking Supervision (BCBS) defines operational risk “as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk, but excludes…

Operational Risk: Key Risk Indicators (KRIs)

Key Risk Indicators Defined Key Risk Indicators (KRIs) are an important tool within risk management and are used to enhance the monitoring and mitigation of risks and facilitate risk reporting. Operational risk is defined as the risk of loss resulting…

How ORM Add’s Value to the Business

The identification, assessment, measurement monitoring, and reporting of Operational Risk presents several obstacles; however, it can be worth the trouble. Please use the link below to open the document which provides a high level overview of a few of the key…

Cyber Exposures: More than the Technical

By: Douglas A. Nagan Initially, when faced with threats, man had to choose between ‘fight’ or ‘flee’. In these times, we have many more choices because, along with the increased number and sophistication of threats, we have created improved strategies,…

Building an Operational Risk System

By: Causal Capital | Martin Davies There are stacks of operational risk reporting systems on the market however, in general many of these risk solutions are overpriced and unsophisticated programs. So, why not build your own operational risk reporting system?…