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| Home > Consulting services > New Generation Risks > NF & Operational Risks > Organizational framework and Responsibilities > Support and leverage corporate units' capabilities, and contributions |
| Support and leverage corporate units' capabilities, and contributions |
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Without a clear vision, mandate, framework and responsibilities, operational risk management will fail. Day-to-day management of operational risk is the responsibility of the business units. Corporate management is charged with enterprise-wide policy and standards, supporting and holding the business units accountable. |
Best Practice
Define roles and responsibilities of corporate units firm-wide. Structure operational risk management programs such that they reinforce key aspects of existing control and risk management programs, including but not limited to those of Control Self-Assessment, Internal Audit, Compliance, Legal, Security, and other risk management functions. Support and leverage their contribution. Avoid redundancy of effort. A mission statement and objectives will be set for those units contributing to the firmwide function, not limited to the group operational risk management unit.
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How can Haselfrė help?
Haselfrė empowers the board in setting the eight path for a governed organization. We help the board set the right strategies, align their strategies in accordance with good governance practices, use the sustained balanced scorecard methodology to align their vision and help them set the right performance criteria for preventive action. |
Value proposition of Haselfrë
Haselfrë empowers the board in setting the eight path for a governed organization. We help the board set the right strategies, align their strategies in accordance with good governance practices, use the sustained balanced scorecard methodology to align their vision and help them set the right performance criteria for preventive action |
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