The benefits of alignment
Aligning operational risk management with basic business process management techniques has been lauded in the past as a very granular but effective way of managing op risk exposure in an organisation. Thanks to the financial crisis, the concept is gaining even more attention. Victoria Pennington takes a look at some of the benefits
At its core, operational risk management is about managing the risk of losses resulting from failures of people, systems or processes. Simply put, the definition of business process management is about aligning the processes in an organisation to maximise operational performance. The two concepts are closely related, and when properly integrated can create a robust and flexible method for managing
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