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Operational Risk Management

Aside from credit, market and liquidity risk management, operational risk management is one of the key disciplines for managing risk – especially within financial institutions. EU regulations mandate that these institutions adequately manage and mitigate operational risks.

Objectives

An established operational risk management process helps companies achieve the objectives that drive success.

Establishing standardized methods

Implementing a standardized approach to identify, assess and mitigate operational risks.

Standardizing management of damage claims

Introducing standards for registering, evaluating and reporting operational loss events.

Implementing regulatory requirements

Fulfilling requirements defined by the European Banking Association.

Enabling BIA usage

Allowing the institution to follow BIA, a more favorable approach for calculating required minimum capital.

Identifying potential savings

Saving costs by reducing losses caused by operational events.

Determining the need for optimization

Creating input for areas needing to improve overall risk management and internal control procedures.

Challenges

  • Establishing operational risk reporting processes.
  • Gaining insights on incurred risks to gain transparency on these events and generate the resulting capital requirements.
  • Meeting management expectations while keeping the involvement of the 1st line at a reasonable level.
  • Ensuring that the framework is consistently applied across all affiliated entities regardless of their size and unique culture.
  • Developing the maturity level of operational risk management without losing the 1st line or management.
  • Establishing operational risk as a business enabler rather than a necessary burden.

Our solution with risk2value

OpRisk mit risk2value grafische Darstellung
  • Profit from a simple user interface for administering operational risks on all organizational levels.
  • Work effectively with all process contributors in a structured, workflow-driven approach.
  • Identify and classify risks and losses in a standardized approach to enforce consistent quality throughout the process.
  • Boost overall efficiency by integrating different contributors across the institution (e.g. allowing all employees to record loss events).
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Operational risk management and internal control system at Vontobel

Browse our webinars, podcast episodes,
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A small selection of our OpRisk customers

These companies trust our expertise.
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Any questions?
We'd be happy to assist!

Romana Hanig

SALES & ACCOUNT MANAGER