Operational Risk

The Operational Risk workbench allows process owners to assess and manage the risks inherent in their processes, aligning them with the Basel II framework's 3-tier operational risk categories: People, Processes, and Systems. This feature offers a rich interface for aligning process controls with identified risks, helping to gauge exposure levels and prioritize mitigation efforts. Users can review existing controls within their processes and determine their effectiveness in reducing risk. By systematically linking risks to specific processes and evaluating the controls in place, businesses can ensure a robust risk management strategy. This proactive approach not only safeguards the organization but also uncovers opportunities to improve process resilience, further driving operational excellence.