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Operational Risk V2.1

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David Spinks
David Spinks

Unless lessons are learned from recent financial crises, another crash is inevitable. Weak auditors, executives incentivized by short-term targets, and a lack of investment in risk management and quality contributed to past issues. Organizations with executive commitment to operational risk management, independent internal audit, and a mature risk culture embedded in operations are more likely to recognize and correct underlying risks. Treating failures as learning opportunities, actively involving executives in risk oversight, and measuring operational risk can help organizations prioritize quality, security, and risk in business decisions.

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David Spinks Operational Risk Management in a post credit crunch world
Introduction- Who am I and what do I do?:
Can Lightning Strike Twice? Unless the lessons from recent events in Financial Services are learnt then another similar “crash” is inevitable. Today all the signs are that many organisations are simply going to carry on without recognising or correcting the underlying Operational Risk (root cause) issues …
The Issues Defined: Weak auditors no teeth Execs incentivised by short term targets Lack of investment in risk management and quality Profit before performance
How do we recognise the good guys? Executive commitment to operational Risk Management Recognition of brand and reputation management Independent and influential internal audit Mature risk culture embedded into business operations Organisations willing to admit and learn from mistakes
Quality and Ethics can Pay: http://ethisphere.com/wme2010/
Operational Risk Management Critical Success Factors (CSFs)? Op Risk Management and supporting processes are communicated to all staff. Good practice is openly rewarded and failures are treated an opportunity to learn Executives are actively involved and support operational managers Quality, security and risk is measured and communicated Operational Risk is included in every business interaction
Questions :
These slides are an extract from David’s full slide decks … used over many years to support private and public presentations at conferences and events. If you would like David to speak at your event please contact him by ringing +44(0)7790 495 435 or by email at Dspinks41@gmail.com

More Related Content

Operational Risk V2.1

  • 1. David Spinks Operational Risk Management in a post credit crunch world
  • 2. Introduction- Who am I and what do I do?:
  • 3. Can Lightning Strike Twice? Unless the lessons from recent events in Financial Services are learnt then another similar “crash” is inevitable. Today all the signs are that many organisations are simply going to carry on without recognising or correcting the underlying Operational Risk (root cause) issues …
  • 4. The Issues Defined: Weak auditors no teeth Execs incentivised by short term targets Lack of investment in risk management and quality Profit before performance
  • 5. How do we recognise the good guys? Executive commitment to operational Risk Management Recognition of brand and reputation management Independent and influential internal audit Mature risk culture embedded into business operations Organisations willing to admit and learn from mistakes
  • 6. Quality and Ethics can Pay: http://ethisphere.com/wme2010/
  • 7. Operational Risk Management Critical Success Factors (CSFs)? Op Risk Management and supporting processes are communicated to all staff. Good practice is openly rewarded and failures are treated an opportunity to learn Executives are actively involved and support operational managers Quality, security and risk is measured and communicated Operational Risk is included in every business interaction
  • 9. These slides are an extract from David’s full slide decks … used over many years to support private and public presentations at conferences and events. If you would like David to speak at your event please contact him by ringing +44(0)7790 495 435 or by email at Dspinks41@gmail.com