Support the ongoing application and deployment of your organizations Operational Risk Management framework on the Life you organization in order to help manage all relevant operational risks (People, Process, Technology and External Events) and ensure appropriate monitoring and escalation procedures are in place.

More Uses of the Operational Risk Management Toolkit:

  • Confirm your organization organizes, directs and controls Operational Risk Management process by analyzing incident report trends and implements operational changes that mitigate risk.
  • Provide direction and leadership to the Operational Risk Management area in support of your organizations goals.
  • Ensure all job site employees participate and drive safety initiatives as tool box talks and Operational Risk Management meetings to proactively identify safe practices for your people.
  • Systematize: operational risk officers are the liaisons between Operational Risk Management (orm) and the entire enterprise.
  • Elevate the connections of your offerings in the area of Enterprise Risk Management (ERM), Operational Risk Management (ORM), Integrated Risk Management (IRM) and Governance, Risk and Compliance technologies.
  • Represent the Operational Risk Management organization in the development of an enterprise governance risk and control system (integrated technology solution).
  • Ensure your organization conducts Operational Risk Management activities by conducting risk and vulnerability assessments, business impact analysis, security audits, and defining security requirements for the overall security posture of interconnected and standalone systems.
  • Confirm you understand the linkages, and ensure Business is leveraging all tools in place for managing the Operational Risk Management cycle and evidencing the feedback loop across MCA, KOR and KI process, Scenario Analysis and Loss Analysis on a continuous basis.
  • Solidify expertise with the regulatory and market structure framework of Group Technology related to financial services Operational Risk Management.
  • Arrange that your organization os offer software solutions and professional consulting services to industry to address Operational Risk Management needs.
  • Manage the development of the risk management strategy, risk assessment philosophy and Operational Risk Management program.
  • Ensure your organization manages site specific Accident Prevention Plans, performing audit and inspections, and collaborating with Project Management, Safety Management, and Field Management in the implementation and leadership of the Operational Risk Management (ORM) process.
  • Be accountable for attending steering committees and working groups to ensure appropriate Operational Risk Management coverage.
  • Collaborate effectively with 2nd line of defense Compliance, Legal, Enterprise Risk Management, Operational Risk Management, Sarbanes Oxley SOX, Cyber Risk Management, etc.
  • Drive: it hardware/asset management, vendor management, financial management, contracts management and Operational Risk Management.
  • Be accountable for bring into consideration performing risk review and evaluating Business processes in conjunction with other ORM Business Operational Risk Management teams.
  • Ensure your organization contributes to the overall quality of risk management across your organization for the purpose of developing, implementing, maintaining, and training on the Operational Risk Management Program, Framework, Policy, and procedures.
  • Evaluate: expertise in financial and Operational Risk Management concepts, best practices, and regulations.
  • Warrant that your organization provides analysis and risk evaluation of Operational Risk Management duties and lead defining remediation efforts.
  • Confirm your organization oversees and leads the implementation of process, procedures and standards for Operational Risk Functions and programs related to the Operational Risk Management Framework ensuring consistency and efficiency, and to establish audit and exam ready posture.
  • Audit: site specific project safety plans, and collaborating with project management in the implementation and leadership of the Operational Risk Management (orm) process.
  • Assure your organization acts as a liaison with external regulatory, legal bodies, or Internal Audit on Operational Risk Management issues.
  • Ensure your organization collaborates with the CAO in making authoritative recommendations, exercising professional judgment and initiative while planning, evaluating, and reviewing the delivery of key Operational Risk Management activities.
  • Be accountable for performing risk review and evaluating Business processes in conjunction with other ORM Business Operational Risk Management teams.


Categories: Articles