Have you really got your companies operational risk framework in check?
If you ask a risk analyst about their impression of their companies operational risk systems which, we have to admit is a relatively unframed question, it does seem to generate the typical responses that range between: We're totally sorted, It's kind of there and We are not really sure.
Very few people ask "is the operational risk process/system in check?"
Then of course how do we know whether a company is good at measuring operational risk or not especially when it may not have been presented with a problem to test its aptitude to control the event horizon.
In this article we are going to review a check list for operational risk framework requirements that should be considered by management in all businesses, the aim is to move towards best practice.
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