Strategic and Operational Business Planning and Monitoring

Rafael Cavestany, Lutz Baumgarten and Brenda Boultwood

We now look at the embedding of the risk profile, calculated as presented in Part II, into the strategic and operational business planning and its monitoring. We have structured this chapter into the following sections:

  • “Integrating the operational risk profile into the strategic and operational planning”: In this section, we examine the means and key considerations when integrating the operational risk profile into the strategic and operational business planning process.

  • “Integrating capital results into the GRC risk reporting”: Here, we look at the integration of the capital results into the overall reporting of the GRC.

  • “ORA for monitoring the strategic and business plan”: This section introduces the a framework for operational risk appetite – or ORA – and its use in the monitoring of the operational risk profile in accordance with the business plan.

INTEGRATING THE OPERATIONAL RISK PROFILE INTO THE STRATEGIC AND OPERATIONAL PLANNING11This section has been contributed by Lutz Baumgarten.

Introduction

Since the onset of the financial crisis in 2007, the industry has moved in the direction of a more integrated (or holistic) approach towards

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