Baringa’s annual survey of operational risk professionals provides a leading benchmark and industry-led insight into the best-practices and ongoing challenges facing financial services providers across the world.
Operational risk professionals have been thinking about resilience for some time, and so the pandemic-related shock of 2020 provides an opportunity to review the effectiveness of policies amid real-world disruption.
If the goal is to create true organisational resilience, then embedding sound operational risk processes into a business must be the priority.
The latest edition (2020-2021) is entitled ‘Resilience put to the test’. It looks at the major priorities for risk professionals in identifying and managing operational risk in an ever-shifting environment, with a particular focus on resilience. The report provides insight into areas including:
- How operational risk managers responded to COVID-19.
- Anticipated team changes, trends in identifying and assessing risk.
- Embedding operational risk management into an organisation.
- How RCSAs are used most effectively.
- Incorporating resilience into risk frameworks.
- The future of operational risk management.
Read the full Operational Risk Survey and Report below.
It is critical to re-frame resilience to respond to client demands, evolving regulatory expectations, market forces, and global crises.Read more
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The journey towards operational resilience maturity
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Operational risk management - overcoming the challenges for long-term success
As firms return to some semblance of normality, there is a shift in focus from firefighting, back towards business as usual operational risk management and an emphasis on enhancement. We explore two key challenges currently faced by operational risk teams: Risk appetite and key control identification.Read more