Although arguably all of our efforts are or will be geared toward mitigating or optimizing risk, there are several strategies that will be identified as providing an overall framework for risk mitigation efforts firmwide. We refer to these as the risk mitigation framing strategies. They consist of strategies that must emanate from the corporate organization in support, reinforcement, and scrutiny of the business unit efforts.

A key aspect of operational risk management will be to assure the smooth continuity of business operations. Enhance and leverage strategic business continuity efforts beyond traditional areas of focus, such as physical hazard risk. Address the vulnerabilities such as risk to key revenue streams, reputation, stakeholder and regulatory standing, and one-time risk of loss. Include strategic investments in systems and processes. Seek opportunities to showcase business continuity as a competitive advantage.