Operational risk

Reduce the potential for loss resulting from inadequate internal processes, systems, or external events, including human error and fraud.

How we help

 

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. 

Insights and case studies

Proactively identifying and mitigating risk in financial services with a RCSA thumbnail
Proactively identifying and mitigating risk in financial services with a RCSA

Connect with a financial services expert

Maya Wilson bio image
Maya Wilson
Managing Director, Compliance and Risk Management
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Andrew Surgan bio image
Andrew Surgan
Managing Director, Compliance and Risk
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David DeLouya bio image
David DeLouya
Managing Director, Compliance and Risk
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Erik Shumar
Erik Shumar
Managing Director, Financial Institutions Advisory
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