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.
Visit our Re-frame Resilience webpage for more on operational resilience.
It is critical to re-frame resilience to respond to client demands, evolving regulatory expectations, market forces, and global crises.Read more
Corporate Governance and Internal Controls: the backbone of all businesses
The UK government has set out to overhaul audit and corporate governance to help restore trust in big businesses.Read more
The journey towards operational resilience maturity
The UK regulators’ operational resilience rules and guidance has come into force. Now the three year transition period commences.Read more
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