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Additionally, we have specialist capacity in a number of specific areas of operational risk i.e. Procurement & Supply Chain; Retail Banking; & Mining.
Operational Risk
In the past many organisations accepted operational risk as an unavoidable cost to doing business. Many now collect data on operational losses - for example through system failure or fraud - and are using this data to model operational risk. King III calls for a more focussed and measurable approach to corporate governance, and the sound management of your operational risk is not only key to your business's success, but also an accepted requirement....
Process, Policy and Procedure
One of the most likely causes of failure within Operations is either the lack of formalised processes or the non-alignment of processes to Policy and Procedure. In these instances it is invariable that risks are heightened, accountability is not entrenched and productivity is adversely affected....
Process Compliance & Assurance Reviews
Informed Risk Consulting has developed a unique approach to conducting compliance and assurance reviews on Operational processes, ranging from basic, to highly complex and technical.
These reviews are structured around agreed Terms of Reference (TOR’s) and conducted by skilled subject matter experts. The adequacy and efficacy of controls are determined; risks and shortcomings identified & remedies developed.
Process Failure - Analysis & Investigation
It is inevitable that despite the best proactive risk management practices, failures occur from time to time. Understanding the “where, how, when and who” is critical to building on the maturity of the total risk management approach and is imperative to closing the loop on the risk management cycle....
Procurement & Supply Chain Risk
Of the greatest risks within any organisation, those within the Procurement & Supply Chain environment are most likely to materialise and negatively impact financial performance. Global studies clearly identify Procurement Risk as one of the fastest growing risks to affect organisations. The highly-reported levels of fraud and corruption within the South African context, within Procurement & Supply Chain, is starting to place higher demands of risk management practices within these environments....
Business Intelligence
If you want to be incrementally better, you need to be competitive.
Informed Risk Consulting offers a consulting and advisory service geared to interrogate your multiple and complex data sources to consolidate this data into a focussed and structured dataset for analysis and decision-making purposes.
