centralized monitoring

centralized monitoring

ANB has setup a centralised monitoring mechanism for Operational Risk Management Department (ORM) of a leading MNC bank.

client brief

Operational Risk Management (ORM) department plays crucial role in bank’s approach to identifying, assessing, monitoring and controlling/mitigating the operational risk. Bank believes that a consistent and effective operational risk management framework can help them achieve organizational objectives and superior performance. By including a well-constructed operational risk process in the entire value chain, a bank can help ensure that the risks inherent in those activities are understood and addressed. In many instances an early involvement of operational risk management can increase the development speed of new initiatives

business needs

Banks and financial institutions are undergoing a sea change and today face an environment of rising customer expectations, mounting competition, increasing regulatory oversight and complex technologies. This has increased the probability of process failures resulting in an increased focus on operational risk management.

Operational losses have often led to the downfall of financial institutions. Today, the regulators of financial companies and banks are demanding that Boards of Directors have a far greater awareness, and oversight of these risks. Further, compliance regulations like Basel III and SOX mandate a focus on operational risks, forcing financial organizations to identify measure, evaluate, control and manage this ubiquitous risk. There has been a paradigm shift in the risk management practices. Successful Risk Management functions endeavour to be prognostic and not diagnostic. ORM, thus, faces a challenge of setting up a strong predictive monitoring mechanism that spews key risk lead indicators that are triggers of rising operational risks.

  • Coverage – Retail Assets & Retail Liabilities
  • Number of reports devised – 130
  • Number of data points – 250+
  • Critical reports - 40

solution approach

ANB, being subject matter expert, assisted the ORM team in setting up a Centralised monitoring function. Following approach was adopted for project:

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centralized monitoring  case study


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