You think you have the right people!  You think you have the right systems and controls in place!                     

Are you sure?  Would you bet your business on it?

There are many cases of institutions having controls and procedures in place only to find that they have been exposed to a huge loss, deliberate or not.  The most recent and highly publicised was a large French bank.  

How did an individual manage to circumvent so many levels of control?

How was it that so many individuals did not see the “red flags”?

The truth is that many managers have controls to cover off the obvious risks, such as non – receipt of funds, principle exchange risks, documentation risk to name a few.

Operational Risk is not new. It includes virtually all components of risk and risk management and the challenge is that there is no perfect formula that can be implemented to eliminate it completely.  

Operations risk is born out of the relationship each individual component has with each other. There is no one point of focus. Risk is inherent in all aspects of business and the term “operational risk” is an umbrella for all of them.

Change Creates specializes in the identification and mitigation of operations risk. Some of the areas covered are:

Systemic risk,

People risk

Concentration risk

Enterprise / reputational risk

Business continuity

Succession planning

Our expertise has been gained through real experience, running businesses and business units for large, international organizations.  Our network is global and so is our experience which enables us to advise of situations and solutions that may be new to one region but seen before in another.

Do not leave it to luck. Risk can be minimised through proactive prevention.