2018-03-23: Best Practices on Risk Aggregation

As part of risk and control assessment process, organisations collect a lot of information about risks at various levels across the organisations. However, it is generally difficult to aggregate the detailed information about risks at a business division or group level to create an aggregated view of operational risk exposure.

In this session, Manoj Kulwal shared guidance on following topics: –

  • Aggregating data at risk level. Data may include incidents, issues, control assessment outcomes, control testing outcomes and key risk indicators.
  • Aggregating data at risk category level. Aggregating exposure of risks owned across different business unit to a single risk category (e.g. External Fraud).
  • Aggregating data at business unit level. Aggregating exposure of different types of risks at the business unit level.
  • Aggregating data at different levels within the organisation structure e.g. Division and Group level.

Manoj Kulwal is the Chief Risk Officer at RiskSpotlight and Director of Marketing at the IOR. He has 18 years of professional experience covering operational risk management, enterprise risk management, strategic performance management and business intelligence. He been involved in risk management related industry initiatives such as revision of the ISO 31000 risk management standard and development of the Certification of Operational Risk Management (CORM) at IOR. He is actively involved in consulting and training related engagements on operational risk management. He also led development of world’s first forward looking web-based operational risk news service – RiskSpotlight Portal.

Click here to download slides for this poll.

Click here to download the spreadsheet covered during the webinar.

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