Finding the Right Operational Risk Management Tools for Your Organization
Organizational risk management transcends surface risk management and goes beyond the day-to-day flow of a compliance platform. When considering organizational risk management, leadership needs to have a forward looking vision with global perspective.
Open communication, integrated management and teamwork are key to a successful compliance program. Having a clear vision of where the organization is headed is also critical when considering organizational risk management.
Convercent’s integrated compliance platform can satisfy your organizational risk management needs by:
- Analyzing risk – Create a likelihood of impact matrix to include areas such as legal liability, health and safety, financial loss and reputational impact
- Look for gaps – Policies and procedures in place are adequate, reporting mechanisms are clearly defined, training and education are regularly deployed
- Work with peers –Borrow good ideas from other compliance teams, start peer groups and attend roundtable discussions
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