Operational risk frameworks and expectations through bodies such as the Basel Committee on Banking Supervision (BCBS) continue to evolve and drive banks to develop scalable and sustainable operational resilience programs.
Goals and Objectives
Identify the risks to the institution from internal and external forces through improved risk intelligence. Automate risk analysis and scoring. Establish an enterprisewide risk control integration as well as a mapping of risk controls to business operations.
Hardware: Enterprise hardware
Services: Managed services and consulting
Software: Analytics, AI, and application platforms
Innovation accelerators: Cognitive machine learning
3rd Platform technologies: Big Data and analytics
Use Case Summary
Operational risks arise from failed internal processes, improper business practices, system failures, or external events. Institutions must have a holistic view of operational risks to understand and measure the potential impact to the bank. GRC point solutions and integrated suites will be used to enhance existing technology and processes.