Are You Aware of Emerging Operational Risks?
Operational Risk Management is tasked with recognizing and managing day-to-day risks as well as keeping their eye on emerging events. How to recognize any emerging risk can be difficult. What to do when a risk is emerging or has just recently emerged is even more difficult yet. The key may not be to predict what is going to happen but instead to be excellent at recognizing quickly when risks have emerged and then to react appropriately.
Technology evolves, procedures adapt, competitors shift, regulations grow, employees join, and dozens of other changes happen. Each of these modifications can bring new risks to your institution.
Understanding how to react to emerging events and fluid situations can give you a competitive edge. Streamlining reaction processes is the key to managing emerging risk and minimizing damage.
WHAT YOU'LL LEARN
- How can you recognize emerging risks?
- Which risks require immediate attention?
- What are the best ways to quantify the impacts of risks?
- What tools can you use for monitoring and reporting?
- How can you develop a rapid response methodology?
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