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What is the Operational Risk Life Cycle?

Source: Mash Risk Television

Infosys Technologies
Ashwin Roongta, Senior Principal

Runtime: 3:55

Op Risk Life Cycle Stages:

  1. Stage 1 – Risk Identification: Handling evolving organizational structures (acquisitions, mergers, spin-offs).
  2. Stage 2 – Loss Data Management: Ensuring “data completeness” (internal systems, external data feeds, non-financial losses). Data quality is a big challenge.
  3. Stage 3 – Risk Measurement & Analytics: Measurement approach based on loss data availability, organization’s risk maturity, and time-to-market.
  4. Stage 4 – Risk Mitigation: Building controls within the framework; managing risk close to where it originates; and notification infrastructure across multiple dimensions (loss amounts, locations, business lines, risk categories).
  5. Stage 5 – Reporting & Disclosure Management: On-the-fly reports according to context specific requirements.

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