Operational risk is managed through ensuring an alignment of business unit processes, documented procedures, trained staff, effective data management and reporting systems, enforceable contracts, and regular reviews by management and independent auditors.
We can assist your organisation with:
- Reviews and development of policies setting delegations and staff operational limits
- Reviews of current processes and procedures, documentation of process flow charts and procedural steps
- Documentation of analytical methodologies to ensure clarity amongst users
- Reviews of the adequacy of data management systems
- Reviews of information flows between business units
- Reviews of business requirements for commodity transaction management (Energy Trading and Risk Management - ETRM) systems
- Development of operational risk monitoring and reporting methods
- Support for Internal Audit