Operational Risk is Human Risk
Operational risk is the risk associated with how your company functions and what it prioritizes. Because these functions are essentially the result of human decisions and processes, operational risk is largely composed of the potential risk that results from human error.
We help our clients by first getting to know them. In order to identify risk, we need to understand how you operate, who your management team is, and what you do differently from everyone else. More importantly, we listen – we want to know your goals, your priorities, and your strategy for growing your business. We then use this knowledge to identify where you may be vulnerable. We help you see where things can go wrong so you can effectively manage those risks.
The Cost of Ignorance
As difficult as it may be, failing to assess your operational risk can be quite costly. Unidentified and unmitigated risks that come to fruition when you least expect it can result in lost revenue, lost opportunities, increased operational costs and lost productivity. While assessing these risks can be expensive, you should consider it an investment in the future success of your company.
Building resilience into your business’s operations means being able to adapt and overcome operational challenges that arise. Not only does this protect you from the negative consequences when things go wrong, but it directly translates into greater stability and increased customer and client satisfaction.
However, building resilience into your business is more difficult than it sounds. It requires deep knowledge and experience in your industry, as well as specific knowledge of what makes your company unique. Drawing on a vast network of analysts, lawyers, regulators, researchers, and industry veterans, we bring decades of high-level experience to the table. Our people work side-by-side with you to develop a system of operational resilience that is tailored specifically for your company. Once developed, we also help our clients implement these systems and monitor them to ensure that they are effective without sacrificing the day-to-day efficiency of your operations.