Operational risk summarizes the uncertainties and hazards an organization faces when it attempts to do its daily business activities or routines. This type of risk can result from breakdowns in internal procedures, people and systems. Every organization uses set processes to run their daily operations. These processes are the routines or steps your workforce utilizes to ensure your products and services are delivered as promised. Trouble can occur and risk increases if those processes are not well documented. Allowing processes and procedures to be passed from one generation of employees to another without standards can lead to the inability to continuously deliver as promised. A properly documented process designed and tested at the right level, will give you the tools needed for resiliency, continuity of business and seamless execution by your workforce.
Tactegra was forged from the process industry, with the experience and ability to document, fix, design, test, control, ensure lasting change, and automate processes across every industry. Let us fortify your business for the long term.
At the Heart of Operational Risks
The first step in understanding your operational risks is to document your process. This may take the form of a formal process map, value stream, or standard procedure that will get you ready to operate at the highest level and work through audits with ease.
When you need to develop a new process for a new product or service, the process will need to be created, tested, and rolled out to your workforce to ensure success. Optimizing the process to be robust and sustainable goes hand-in-hand with its development.
An effective risk assessment process lays the foundation for management to respond confidently as the business environment remains in a constant state of change. By identifying and proactively addressing risks and opportunities, organizations protect and create value for their stakeholders, including management, employees, customers, regulators, and society overall. Tactegra uses a variety of risk frameworks such as COSO Enterprise Risk Management-Integrated Framework, ISO 31000, NIST Risk Management Framework (RMF) to establish benchmarks for an organizations risk profile and controls and develop action plans for risk response.
Controls are a combination of people, processes and tools that are put in place to prevent, detect or correct issues caused by unwanted events. Tactegra can create a carefully planned control framework that weaves the various types of controls together and protects the organization from risks. Proactive testing of controls in order to ensure they will perform as designed and implemented, will ensure that your processes are running as you expect. It also ensures operational risks are being monitored in a manner that will provide ample opportunities to take corrective action before any faults affect your customers.
Copyright © 2020 Tactegra - All Rights Reserved.
Powered by Tactegra Technology Solutions