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In Operational Risk engagements, GMI partners with client personnel to:
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Enhance the integration and alignment of traditional operational risk processes
with Sarbanes-Oxley and other related activities |
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Enhance and leverage existing Self Assessment capabilities |
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Introduce new frameworks and methodologies (such as providing a process
orientation to performance and risk management) to more proactively identify
and report on opportunities and risks
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Reengineer processes related to Action Plan identification, prioritization,
rapid implementation, and tracking |
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Assist in Enterprise Risk Management programs that better align and integrate Strategic Risk, Credit Risk, Market Risk,
and Operational Risk management. |
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GMI intellectual capital leveraged in Operational Risk Management projects includes:
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Common Language Definitions |
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Process Taxonomies |
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Process Maps |
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Risk Scoring Models |
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Metrics Repository |
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Report Templates |
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OpRisk Essential and Desirable Software Features |
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Root Cause Analysis Methodology |
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Action Plan Templates |
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GMI’s technology assistance related to Operational Risk Management includes:
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Development of Integrated Reporting Systems (to pull together Self Assessments,
Loss Events, Audits, Action Plans, Capital, etc.) |
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Implementation of Operational Risk Capital Analysis tools |
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Leverage of commercial off-the-shelf software tools to support Self Assessments,
Loss Event reporting, Action Plan management, etc.
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Development of automated data quality/control cleanup tools
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All work is performed collaboratively on a teaming basis, including participants from senior
management, line management, risk management, Six Sigma teams, IT, and internal and
external audit.
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