Operational Risk

The Basel Accord raised the profile of operational risk considerable within financial services and highlighted many of the issues faced by a firm in practice.

At Risk Reward we have developed a range of services that both meet the demands of the Basel regulations, while actually adding value to the business. In many firms this has been one of the challenges faced - to implement effective risk management solutions that should not just be seen as a regulatory imposition, but will become the way in which your firm does business.

With experience of developing Standardised and Advanced Measurement Approach solutions to operational risk, our specialist operational risk consultants can provide the following services:

• Create risk dictionaries and operational risk manuals
• Implement risk registers
• Review and develop internal loss databases
• Implement control and risk self assessment solutions
• Design and implement key risk indicator suites
• Develop standardised generic stress events and scenarios
• Build all of the above into a consistent format

Our consultants have experience of working with many banks and their senior management, gaining their acceptance and buy- in to achieve the necessary ownership, leading to the overall success of the project.

There are a range of software solutions available that assist a firm in meeting the demands of the rules. Some of these are based on internal loss databases, while others use either control and risk self assessment or inference mathematical modelling to develop a consistent solution. As a software agnostic firm (that is, we are not affiliated to any software vendor) we are able to provide pro-active and unbiased advice on software selection.

The experience of our team in dealing with such issues is, we believe, one of the best in the industry. Led by acknowledged experts in their respective fields, they are able to provide practical yet innovative and cost-effective solutions to ensure that your firm develops an operational risk framework that meets the demands of its various stakeholders and that actually works in practice.

Challenge us to add value to your firm in developing an operational risk solution.