7 Essential Strategies for Operational Risk Management.pdf

https://youtu.be/NKto3DsTppA

Enhance your understanding of operational risk management with our informative video, "7 Essential Strategies for Operational Risk Management." This video outlines the critical strategies that organizations can implement to effectively manage and mitigate operational risks. From identifying and assessing risks to developing response plans and monitoring controls, we cover the comprehensive steps necessary to safeguard your business operations. Ideal for risk managers, compliance officers, and business leaders, this guide will equip you with the knowledge to strengthen your operational risk management framework and ensure business continuity.

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1. RTCompliance
OPERATIONAL
RISK MANAGEMENT

2. Operational risk management is crucial for businesses to
identify, assess, and mitigate risks associated with their
daily operations
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3. 7 Essential Strategies
01
First step in operational risk management is
identifying potential risks across all aspects of
operations, including people, processes, & systems
ESG
Risk Identification
02
Risk assessments help prioritize risks based on
their severity, allowing organizations to allocate
resources effectively for mitigation efforts
Risk Assessment
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4. Monitoring and Reporting
04
Control Implementation 03
This may involve implementing
internal controls, standard operating
procedures, and technological
solutions to minimize risk exposure
Continuous monitoring of operational
risks is essential to detect changes in risk
factors and assess the effectiveness of
control measures
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5. 05
Providing regular training &
awareness programs help
employees understand their role
in managing operational risks
06
Training & Awareness
Incident Response
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Developing robust incident
response plans is essential
for addressing operational
disruptions

6. 07
Organizations should regularly
review and update their risk
management strategies
Continuous
Improvement
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7. Conclusion
Organizations can enhance their resilience, protect their
assets, and ensure sustainable business operations amidst
a dynamic and uncertain business landscape
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8. THANK
YOU
RTCompliance
[email protected]
www.rtcompliance.sg
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