This article explores the two main activities required to start the journey of implementing a software based solution to support Operational Risk Management. I would like nothing better than to tell you that the journey is swift and free of challenges, but the truth as you might suspect is much different. The good news is that a pragmatic and high value program is achievable, but only if you follow some doctrines for deployable success.
I’ve worked for several organizations in my career that tried to both develop these risk intelligence programs (before risk intelligence industry was born) internally, and for external organizations. The mistake made by both was thinking that the very smart people that practiced operational risk were the only resources they needed to conceive and deliver a program that was operational and returned the promised value.
In actuality, it requires some specialized skills and experience through practical implementations to ensure success at a minimum for the first phase of a program.Download “The Path to Operational Risk Intelligence – Where to Start”