Operational Risk Consultancy

Our Operational Risk Consultancy team is able to offer support to any organisation wishing to implement an effective operational risk management framework.

Our experienced consultants can help at all stages of the project including creation of a policy document, design of the framework, risk identification and assessment, loss data collection, key risk indicators and control and mitigation strategies.

HSBC Insurance Brokers Operational Risk Consultancy also offers software applications designed by our experts to facilitate the management of Operational Risk in the business.

Key applications are:

OpRisk Manager – a sophisticated browser based application designed to capture information from around the business and address and monitor correction of defects. Modules include:

Control Self Assessment: to monitor the effectiveness of control frameworks and ensure that action is taken to address potentially dangerous weaknesses.
Loss Database: to gather information on loss events that the business has suffered and monitor the actions required to ensure that events are not repeated.
Risk Self Assessment: to access the knowledge of management concerning latent risk issues, prioritise these issues and take cost-effective action.

OpRisk Modeller – a risk mapping and modelling tool designed to enable businesses to simulate the potential impact of Operational Risk on their business through the use of Monte Carlo simulation. The software will permit:

Capital modelling to meet regulatory or stakeholder targets and ensure an adequate capital base for the firm’s risk profile.
Use of risk data to build scenarios of risk and assess the cost-effectiveness of proposed measures to limit risk.
Map processes to identify failure points and evaluate possible solutions to issues identified.