Operational risk

Perform a RCSA self-assessment

Design and implement your risk identification process (RCSA) with a focus on risk origins, risk determination, and risk mitigation through an advanced inherent risk, controls, and residual risk framework.

Establish clear connectivity in policies, procedures, and processes

Ensure linkage between your RCSA framework and risk appetite statement, framework, and limit setting.

Estimate your aggregate operational risk

Utilize as an input into your Operational Risk strategic initiatives including target operating models, technology implementation, and data governance.

Perform a risk assessment of your third party risk management (TPRM) process

Identify and measure potential vulnerabilities and make recommendations to TPRM governance, policies, procedures, and processes.

Drive downstream usage of your RCSA framework into operational loss forecasting

Provide quantitative and qualitative estimates through risk identification and data element capture for inclusion into idiosyncratic scenarios.

Enhance risk culture

Include risk identification process, scale methodologies for assessing inherent risk, control types, control strength, and residual risk within a control taxonomy.