A good operational risk management program keeps loss events within tolerance and maintains operational resilience. A strong operational risk management strategy provides an always-on visibility of operational risk status, updated as KRIs, KCIs and other key metrics change.
The business anticipates when the frequency or impact of operational loss events exceeds tolerance and takes action.
Risk management decisions are made with confidence, based on solid data and effective analysis.
Risks are communicated clearly to stakeholders.
The operational risk program continually optimizes and proves value over time by comparing outcomes against predictions.
Operational risk management
The risks to organizations’ operations continually evolve. In today’s digital era, risks go beyond the familiar ones of fraud, human error and technical failure to include risks related to artificial intelligence, robotic process automation and weaponized misinformation. Acuity’s STREAM Integrated Risk Manager provides visibility and helps you to manage operational risks effectively.