In order to get full benefit from the SIGMAOpRisk solutions, it is essential that Management and the organization get a good overview of the risks that hide in the company’s businesses and operations. We offer state-of-the-art workshops based on years of experience.
Depending on the organization’s readiness, size and complexity, we will help put together the right workshops .
Good workshops provide learning opportunities, openness, team-building and educate on risk management effectively. It is important that the workshop has a sponsor in Management, who ultimately holds the responsibility for risk considered in the workshop.
As facilitators, we understand the company’s risk landscape and challenge participants to think outside the box. We review the risky elements in the company value chain and through conversation, interview and experiences draw the company’s riskmap.
The workshop groups’ size and composition horizontally and vertically in the organization is important. Workshops take best form of talks aimed against future risks.
New insights always arrive at our workshops. The aim is to identify risk elements such as system break-down, unclear processes and policies. Furthermore special risks partially hidden exposure or issues that in one department is considered a calculated risk, but at group level represents a significantly higher risk, including reputational risks.
Recent examples of failure in corporate operational risk management include:
- Volkswagen measuring of environmental performance of cars sold in the US.
- OW Bunkers policies for customer credits and exposure to oil price developments.
- Royal Bank of Scotland fined £14 million. “RBS fine signal PRA’s Tougher approach two operational risk” (Financial Times, November 20, 2014).
- IT company Atea’s sales methods.
- BP’s oil spill disaster of the Deepwater Horizon in 2010.
- Protection against counterfeit drugs in parallel import company Orifarm.
- Roskilde Bank’s process of credit rating the customers.
Something can/will go wrong, but it is important to show to the organization and the outside world that you do what you can to learn from incidents and avoid them in the future. The above cases would not necessarily have been avoided using SIGMAOpRisk solutions and workshops, but the risk would have been significantly Something can / will go wrong , but it is important to show the organization and the outside world that you do what you can to learn from incidents and avoid them in the future. The above cases were not necessarily avoided using SIGMAOpRisk systems and work shops , but the risk will be reduced significantly.