3. Can Lightning Strike Twice? Unless the lessons from recent events in Financial Services are learnt then another similar “crash” is inevitable. Today all the signs are that many organisations are simply going to carry on without recognising or correcting the underlying Operational Risk (root cause) issues …
4. The Issues Defined: Weak auditors no teeth Execs incentivised by short term targets Lack of investment in risk management and quality Profit before performance
5. How do we recognise the good guys? Executive commitment to operational Risk Management Recognition of brand and reputation management Independent and influential internal audit Mature risk culture embedded into business operations Organisations willing to admit and learn from mistakes
7. Operational Risk Management Critical Success Factors (CSFs)? Op Risk Management and supporting processes are communicated to all staff. Good practice is openly rewarded and failures are treated an opportunity to learn Executives are actively involved and support operational managers Quality, security and risk is measured and communicated Operational Risk is included in every business interaction
9. These slides are an extract from David’s full slide decks … used over many years to support private and public presentations at conferences and events. If you would like David to speak at your event please contact him by ringing +44(0)7790 495 435 or by email at Dspinks41@gmail.com