Rapid change seems to be the order of the day, as the speed and complexity of business continue to increase. Technological advances such as cloud computing, mobile devices and social media continue to take hold. Regulatory demands continue to expand. Workforce dynamics continue to evolve. These and numerous other trends spawn new risks, altering risk […]

Risk Control Self Assessment [RCSA] – Sound Practice Guidance – March 2010 – The aim of an operational risk framework is to identify, assess, control and mitigate operational risk and to champion effective reporting of risk and emerging risk issues. RCSA forms an integral element of the overall operational risk framework, as it provides an excellent […]

Developing Key Risk Indicators to Strengthen Enterprise Risk Management – Introduction – Boards of directors have become increasingly aware of their responsibilities related to effective oversight of management’s execution of enterprise-wide risk management processes. This is due, in part, to significant external pressures that have developed recently that are thrusting risk management and its oversight […]

FSA guidance consultation on the standardised approach to operational risk – On 25 October 2010, the FSA published a consultation on guidance for enhancing frameworks in the standardised approach (TSA) to operational risk. The proposed guidance discusses the work being done by TSA industry expert groups and outlines practices which firms may find useful. It […]