Operational Risk
Operational risk with the loss data to back it
Operational risk is a programme on the same register as enterprise, IT, cyber and third-party risk, with its own context: the self-assessment behind each risk, the loss history beside the estimate, and the process it threatens.
- Operational risk programme on the shared risk model, scoring and owners
- RCSA cycles by department, with entries, evidence and sign-off
- Loss events with category, root cause and later adjustments kept
- Scenarios with explicit stated assumptions
In the application · Assure
- Risk register
- RCSA
- Loss events
- Scenarios
- Portfolio
- Program comparison
Stage 1 of 5
Open cycle
Scope and period set by the risk function
Loss events feed the same register, with category and root cause recorded.
Self-assessment
RCSA as a governed cycle
Cycles are opened, assigned to departments, completed with entries and evidence, and closed, rather than being a spreadsheet circulated once a year. Each entry scores the risk, assesses its controls and feeds the register.
- Cycle status tracked from open through completion
- Per-department assessments with their own risk entries
- Evidence attached at entry level
- Results feed the register rather than sitting beside it
Level 3: Well Defined
A standard process is defined and followed across the organisation.
Every question in the control library carries its own written descriptor at each level.
Loss history
Actual losses sit beside estimates
Loss events keep their later adjustments, so what was first reported and what was finally settled are both on record, and reassessment can draw on the history rather than on memory.
- Loss categories and root causes
- Attachments and comments per event
- Loss history that informs reassessment
- Typed risk relationships to assets, processes, services and capabilities
Draft·asset-coordinator creates
Framework alignment
Works with your control frameworks
This module shares the platform control library. International standards, sector regulations and your own internal standard are loaded the same way and mapped to one another, wherever you operate.
Solutions by role
Built for your team
See operational risk in your environment
A walkthrough scoped to your entities, your frameworks, and the way your programme is actually run.