Operational failure spells danger for banks and financial institutions. Many historical examples of financial loss and reputational damage are proof of this fact. Therefore, establishing an effective operational risk management program is a strategic imperative, and a critical step in managing your organization’s operational risks and their cascading effect on core aspects of the business.

Traditionally, organizations in the banking and finance sector have developed an operational risk management structure, also called the operational risk “universe,” which best reflects their overall organizational structure. All core operational risk processes such as risk and control assessments, reporting of risk events, and aggregation and analysis of information, fit into this risk universe. However, it is necessary to start to factor in the changing dynamics of the business in order to establish a truly viable long-term operational risk universe.

As they strive to maintain their operational integrity, banks and financial institutions must also focus on the integration of their risk policies with their broader business objectives and plans. A change in organizational structure or business approach must not throw the operational risk practice out of gear.

Join Carole Carpentier, President of See. See Beyond..... Creativity Consulting. Inc., and Kristen Gantt, Regional VP of GRC Solutions at MetricStream, as they discuss meaningful ways of adapting an operational risk universe to a new business structure. You will also learn valuable insights regarding the role of technology in enhancing your organization’s ability to maintain its operational risk universe.

Additional key points that will be highlighted during the webinar include:

  • Ways to ensure that those accountable for managing operational risks will also take ownership of the operational risk information
  • Key elements of the operational risk universe, and the importance of keeping it aligned with the organization
  • Significant criteria for evaluating operational risk management software

Attend this webinar:
This webinar is scheduled to take place on Wednesday, July 17, 2013, at 8:00 am Pacific Time. To register for this webinar, and to learn more about the webinar and speakers, please click here.

About MetricStream

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. MetricStream apps and software solutions improve business performance by strengthening risk management, corporate governance, regulatory compliance, audit management, vendor governance, and quality management for organizations across industries, including banking and financial services, health care, life sciences, energy and utilities, consumer brands, government, technology, and manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India, and sales and operations support in 12 other cities globally.(www.metricstream.com).

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