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.