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Operational Risk Management & Compliance Officers

Operational Risk Management & Compliance Officers. Where are we now? Where are we going?. Risk Management Framework (example). Governance. Risk & Control Assessment. Losses. Key indicators. Analyse loss causes. Identify risk and owner Assess likelihood and impact.

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Operational Risk Management & Compliance Officers

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  1. Operational Risk Management &Compliance Officers Where are we now? Where are we going?

  2. Risk Management Framework (example) Governance Risk & Control Assessment Losses Key indicators Analyse loss causes Identify risk and owner Assess likelihood and impact Identify and capture internal and external losses Identify control and owner Assess design and performance Specify risk appetite Identify risk and control indicators Action plans Action plans Action plans Modelling Reporting

  3. Risk Management Framework (example) Governance Risk & Control Assessment Losses Key indicators Analyse loss causes Identify risk and owner Assess likelihood and impact Identify and capture internal and external losses Identify control and owner Assess design and performance Specify risk appetite Identify risk and control indicators Action plans Action plans Action plans Modelling Reporting

  4. Operational risk governance • A policy: to have or not to have? • Who approves it? • How do you disseminate it? • Committees: Separate RM or ORM? • What role does internal audit play? • And the other control functions? • And the business units?

  5. Risk and Control Assessment What are the main contents of a RCA? • Gross risk (likelihood and impact) • Owners of risks and controls • Controls (design and performance) • Action plans to enhance/add controls

  6. RCA (client example) Risk Factor Control Factor

  7. KRI Dashboard

  8. Risk Performance (client example) *Chair of the Committee decides on overall rating for each risk event

  9. Risk Management Framework (example) Governance Risk & Control Assessment Losses Key indicators Analyse loss causes Identify risk and owner Assess likelihood and impact Identify and capture internal and external losses Identify control and owner Assess design and performance Specify risk appetite Identify risk and control indicators Action plans Action plans Action plans Modelling Reporting

  10. Contact details Tony Blunden, Director, Head of Consulting Tel: +44 (0) 207 017 3086 Fax: +44 (0) 207 253 2516 Mob: +44 (0) 770 325 7480 E-mail: tony.blunden@chasecooper.com www.chasecooper.com

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