Right Time, Right Place: The drive for change in operational risk (part 1)
Operational and non-financial risk (ONFR) management has an opportunity to step up like never before and support financial organisations as they go through a period of rapid transformation.
To do so will mean making operational and non-financial risk resilient by using innovative technologies, which then enable risk leaders to innovate how they serve the business and actively add value. In this episode, the first of two on this topic, Simon Wills, Luke Carrivick and Mark Cooke explore how operational risk can do this in detail.
This discussion follows the publication of a recent report that explores the future of operational risk in light of rapid digitalisation and other changes in the financial services industry. This report sets out two elements of operational and non-financial risk management – “Optimise” and “Active” – explaining how optimisation will only go so far in terms of keeping pace with the rapidly changing risk profile. This is part one of a two-part discussion.
Download the report for free: https://managingrisktogether.orx.org/operational-risk-studies/future-op-risk-right-time-right-place
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