Operational Risk Management
Identifying risk in advance, analysing it and taking the precautionary steps that reduce or divert it.
Risk management is the practice of identifying potential risk in advance, analysing it and taking precautionary steps to reduce or divert that risk. Afri Risk has the resources to assist in the management of risk across every sphere of a business, on the understanding that risk is spread throughout an organisation rather than confined to a single function.
We work with organisations to assess and identify the risks that threaten reputation, safety, security and financial prosperity, then implement the plans and strategies that stop financial loss.
The goal of the operational risk audit process is to determine whether the internal controls of the business, being the people, systems, policies and procedures are sufficient to produce an optimum level of business efficiency and effectiveness. A lack of efficiency translates directly into increased operational cost, which in turn erodes the ability of the business to compete. Our process also entails security risk assessments, conducted where required on selected executive staff members, their families and properties owned by the client.
The engagement
What an operational risk assignment covers.
- Risk identification and analysis across every sphere of the business.
- Policy and procedure definition and implementation, supported by skills transfer.
- Operational risk audit of people, systems, policies and procedures.
- Security risk assessment, extended to executives, families and client properties.
Want to know where you are exposed?
An operational risk audit gives you a clear picture of the people, systems, policies and procedures that are carrying the most risk.