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SDV TBS utilizes advanced quantitative and qualitative measurement analysis methodologies to internally assess and manage operational risk in a dynamic and integrated way. Identifying operational risk categories and classifications within each category strongly depends on the organization's range of activities. The risk of loss results from inadequate or failed internal processes, people and systems or from external events. We investigate the limitations of current safeguards as to their ability to minimize operational risk and suggest potential future improvement through the following activities:
Risks are nothing more than circumstances that, when triggered, create incidents. Risk identification focuses on the potential sources of incidents, or with the incident itself. We identify current and/or potential problem areas as well as the actions that need to be taken to correct them.
Reporting is prepared by our expertise to encourage everyone in an organization, who observes or experiences a problem, to participate in this process without spending much time and effort. Reporting is encouraged by acknowledgement and recognition. It is important to capture as many near-misses as possible even though not all of them will have the same importance.
Once risks are identified, they are classified and prioritized relative to their potential to trigger and incident. Decisions are made according to the nature and the impact of each area of potential risk.
Each area of potential risk is analyzed to determine the causes using various analysis techniques.
Once the causes of a potential risk are identified, specific solutions can be developed using the following protocols:
- Match solutions to causes to ensure each cause has been addressed.
- Solutions are reviewed to ensure that they will not create new risks.
- Whenever possible, include a member from each department who will implement the solution.
We design and develop processes and architecture to support improved operational risk management. Once proposed solutions are agreed upon, they are developed and implemented to produce optimal business value. All completed actions involve follow-up to ensure their success and effectiveness.
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