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OPSRISK EXCELLENCE
What is needed is a proactive risk management. Escalation and discussion of forward-looking risk in a methodical manner is a tool necessary for anticipating and preventing risks. Another is Know-your-employee (KYE) program. Knowing-your-client (KYC) and Knowing-your product (KYP) are important. Knowing your employee, not only during hiring, but SOLUTIONS – OPSRISK EXCELLENCE SOLUTIONS. We accept project-based operational risk management framework implementation. Beyond compliance to regulations, we think of the end-to-end sound governance, heightened culture of risk awareness and competitive advantage which operational risk management will bring to the financial institution and in the industry. Projectcomponents are:
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
COVID-19: TOP RISK MANAGEMENTS TOOL TO USE Covid-19 has shown how volatile our environment is. It underscores the need for better risk management. As of this writing, there is no light yet on how it will end. INSIGHTS – OPSRISK EXCELLENCE Challenges in Operational Risk Management Transformation. The common challenges in transforming Operational Risk Management Framework from Basic Indicator Approach to Standardized and Advance Measurement Approach is enormous.ORM ENHANCER
It is not a limit, rather it’s the level in which higher level of management should be informed. (4) Process Mapping “The whole of risk management process is greater than the sum of its parts”. (5) ORM Quant “You cannot manage well, what you cannot measure”. (6) Consumer Protection (EOY2017)“Protecting customers is protectingyour
RISK MANAGEMENT DISCIPLINE IN GOVERNMENT INSTITUTIONS Risk Management Discipline in Government Institutions. Managing risk is innate in individual and every society. Noah’s ark and prehistoric tools are evidence of managing risks of flood and extinction. Managing risk became a formal discipline in 1980s. It evolves into a regulatory requirement in 1990s and, today a standardfunction in
CHALLENGES IN ORM TRANSFORMATION Rather, from Basic Indicator Approach, many banks setup & stabilize the first the infrastructure required of Standardized Approach for 1 to 3 years before transforming to Advance Measurement Approach. In going through the transformation the key challenges are: Data Management. Systems Integration. Organizational Issues. Staffing.Technology Mix.
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OPSRISK EXCELLENCE
What is needed is a proactive risk management. Escalation and discussion of forward-looking risk in a methodical manner is a tool necessary for anticipating and preventing risks. Another is Know-your-employee (KYE) program. Knowing-your-client (KYC) and Knowing-your product (KYP) are important. Knowing your employee, not only during hiring, but SOLUTIONS – OPSRISK EXCELLENCE SOLUTIONS. We accept project-based operational risk management framework implementation. Beyond compliance to regulations, we think of the end-to-end sound governance, heightened culture of risk awareness and competitive advantage which operational risk management will bring to the financial institution and in the industry. Projectcomponents are:
ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions COVID-19: TOP RISK MANAGEMENTS TOOL TO USE Covid-19 has shown how volatile our environment is. It underscores the need for better risk management. As of this writing, there is no light yet on how it will end. INSIGHTS – OPSRISK EXCELLENCE Challenges in Operational Risk Management Transformation. The common challenges in transforming Operational Risk Management Framework from Basic Indicator Approach to Standardized and Advance Measurement Approach is enormous.ORM ENHANCER
It is not a limit, rather it’s the level in which higher level of management should be informed. (4) Process Mapping “The whole of risk management process is greater than the sum of its parts”. (5) ORM Quant “You cannot manage well, what you cannot measure”. (6) Consumer Protection (EOY2017)“Protecting customers is protectingyour
RISK MANAGEMENT DISCIPLINE IN GOVERNMENT INSTITUTIONS Risk Management Discipline in Government Institutions. Managing risk is innate in individual and every society. Noah’s ark and prehistoric tools are evidence of managing risks of flood and extinction. Managing risk became a formal discipline in 1980s. It evolves into a regulatory requirement in 1990s and, today a standardfunction in
CHALLENGES IN ORM TRANSFORMATION Rather, from Basic Indicator Approach, many banks setup & stabilize the first the infrastructure required of Standardized Approach for 1 to 3 years before transforming to Advance Measurement Approach. In going through the transformation the key challenges are: Data Management. Systems Integration. Organizational Issues. Staffing.Technology Mix.
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ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions ACTIVITY – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions JOIN – OPSRISK EXCELLENCE Sumali sa Operational Risk Management Excellence Forum para sa karagdagang kaalaman sa pag-implement ng Operational Risk ManagementFramework.
RISK SOCIALIZATION
Positive SSL. Share a risk incident. Share a risk event or an incident from either news or a verifiable & reliable source. By socializing an incident, we caution and provide others an opportunity to learn. JOIN US – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government InstitutionsONLINE RISK OFFICER
We accept online projects on Risk Management. Our personnel are former risk officer/s who worked in various global and local banks, thus we understand the importance of confidentiality, conflict of interest and ethical services in the engagement.REGISTRATION
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions FORUM – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government InstitutionsLOST PASSWORD
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government InstitutionsOPSRISK EXCELLENCE
What is needed is a proactive risk management. Escalation and discussion of forward-looking risk in a methodical manner is a tool necessary for anticipating and preventing risks. Another is Know-your-employee (KYE) program. Knowing-your-client (KYC) and Knowing-your product (KYP) are important. Knowing your employee, not only during hiring, but SOLUTIONS – OPSRISK EXCELLENCE SOLUTIONS. We accept project-based operational risk management framework implementation. Beyond compliance to regulations, we think of the end-to-end sound governance, heightened culture of risk awareness and competitive advantage which operational risk management will bring to the financial institution and in the industry. Projectcomponents are:
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
COVID-19: TOP RISK MANAGEMENTS TOOL TO USE Covid-19 has shown how volatile our environment is. It underscores the need for better risk management. As of this writing, there is no light yet on how it will end. INSIGHTS – OPSRISK EXCELLENCE Challenges in Operational Risk Management Transformation. The common challenges in transforming Operational Risk Management Framework from Basic Indicator Approach to Standardized and Advance Measurement Approach is enormous.ORM ENHANCER
It is not a limit, rather it’s the level in which higher level of management should be informed. (4) Process Mapping “The whole of risk management process is greater than the sum of its parts”. (5) ORM Quant “You cannot manage well, what you cannot measure”. (6) Consumer Protection (EOY2017)“Protecting customers is protectingyour
RISK MANAGEMENT DISCIPLINE IN GOVERNMENT INSTITUTIONS Risk Management Discipline in Government Institutions. Managing risk is innate in individual and every society. Noah’s ark and prehistoric tools are evidence of managing risks of flood and extinction. Managing risk became a formal discipline in 1980s. It evolves into a regulatory requirement in 1990s and, today a standardfunction in
CHALLENGES IN ORM TRANSFORMATION Rather, from Basic Indicator Approach, many banks setup & stabilize the first the infrastructure required of Standardized Approach for 1 to 3 years before transforming to Advance Measurement Approach. In going through the transformation the key challenges are: Data Management. Systems Integration. Organizational Issues. Staffing.Technology Mix.
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OPSRISK EXCELLENCE
What is needed is a proactive risk management. Escalation and discussion of forward-looking risk in a methodical manner is a tool necessary for anticipating and preventing risks. Another is Know-your-employee (KYE) program. Knowing-your-client (KYC) and Knowing-your product (KYP) are important. Knowing your employee, not only during hiring, but SOLUTIONS – OPSRISK EXCELLENCE SOLUTIONS. We accept project-based operational risk management framework implementation. Beyond compliance to regulations, we think of the end-to-end sound governance, heightened culture of risk awareness and competitive advantage which operational risk management will bring to the financial institution and in the industry. Projectcomponents are:
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
COVID-19: TOP RISK MANAGEMENTS TOOL TO USE Covid-19 has shown how volatile our environment is. It underscores the need for better risk management. As of this writing, there is no light yet on how it will end. INSIGHTS – OPSRISK EXCELLENCE Challenges in Operational Risk Management Transformation. The common challenges in transforming Operational Risk Management Framework from Basic Indicator Approach to Standardized and Advance Measurement Approach is enormous.ORM ENHANCER
It is not a limit, rather it’s the level in which higher level of management should be informed. (4) Process Mapping “The whole of risk management process is greater than the sum of its parts”. (5) ORM Quant “You cannot manage well, what you cannot measure”. (6) Consumer Protection (EOY2017)“Protecting customers is protectingyour
RISK MANAGEMENT DISCIPLINE IN GOVERNMENT INSTITUTIONS Risk Management Discipline in Government Institutions. Managing risk is innate in individual and every society. Noah’s ark and prehistoric tools are evidence of managing risks of flood and extinction. Managing risk became a formal discipline in 1980s. It evolves into a regulatory requirement in 1990s and, today a standardfunction in
CHALLENGES IN ORM TRANSFORMATION Rather, from Basic Indicator Approach, many banks setup & stabilize the first the infrastructure required of Standardized Approach for 1 to 3 years before transforming to Advance Measurement Approach. In going through the transformation the key challenges are: Data Management. Systems Integration. Organizational Issues. Staffing.Technology Mix.
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ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions ACTIVITY – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions JOIN – OPSRISK EXCELLENCE Sumali sa Operational Risk Management Excellence Forum para sa karagdagang kaalaman sa pag-implement ng Operational Risk ManagementFramework.
RISK SOCIALIZATION
Positive SSL. Share a risk incident. Share a risk event or an incident from either news or a verifiable & reliable source. By socializing an incident, we caution and provide others an opportunity to learn. JOIN US – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government InstitutionsONLINE RISK OFFICER
We accept online projects on Risk Management. Our personnel are former risk officer/s who worked in various global and local banks, thus we understand the importance of confidentiality, conflict of interest and ethical services in the engagement.REGISTRATION
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions FORUM – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government InstitutionsLOST PASSWORD
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government InstitutionsOPSRISK EXCELLENCE
What is needed is a proactive risk management. Escalation and discussion of forward-looking risk in a methodical manner is a tool necessary for anticipating and preventing risks. Another is Know-your-employee (KYE) program. Knowing-your-client (KYC) and Knowing-your product (KYP) are important. Knowing your employee, not only during hiring, but SOLUTIONS – OPSRISK EXCELLENCE SOLUTIONS. We accept project-based operational risk management framework implementation. Beyond compliance to regulations, we think of the end-to-end sound governance, heightened culture of risk awareness and competitive advantage which operational risk management will bring to the financial institution and in the industry. Projectcomponents are:
ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions INSIGHTS – OPSRISK EXCELLENCE Challenges in Operational Risk Management Transformation. The common challenges in transforming Operational Risk Management Framework from Basic Indicator Approach to Standardized and Advance Measurement Approach is enormous. COVID-19: TOP RISK MANAGEMENTS TOOL TO USE Covid-19 has shown how volatile our environment is. It underscores the need for better risk management. As of this writing, there is no light yet on how it will end.ORM ENHANCER
It is not a limit, rather it’s the level in which higher level of management should be informed. (4) Process Mapping “The whole of risk management process is greater than the sum of its parts”. (5) ORM Quant “You cannot manage well, what you cannot measure”. (6) Consumer Protection (EOY2017)“Protecting customers is protectingyour
ONLINE RISK OFFICER
We accept online projects on Risk Management. Our personnel are former risk officer/s who worked in various global and local banks, thus we understand the importance of confidentiality, conflict of interest and ethical services in the engagement.RISK SOCIALIZATION
Positive SSL. Share a risk incident. Share a risk event or an incident from either news or a verifiable & reliable source. By socializing an incident, we caution and provide others an opportunity to learn. RISK MANAGEMENT DISCIPLINE IN GOVERNMENT INSTITUTIONS Risk Management Discipline in Government Institutions. Managing risk is innate in individual and every society. Noah’s ark and prehistoric tools are evidence of managing risks of flood and extinction. Managing risk became a formal discipline in 1980s. It evolves into a regulatory requirement in 1990s and, today a standardfunction in
OPSRISK EXCELLENCE
What is needed is a proactive risk management. Escalation and discussion of forward-looking risk in a methodical manner is a tool necessary for anticipating and preventing risks. Another is Know-your-employee (KYE) program. Knowing-your-client (KYC) and Knowing-your product (KYP) are important. Knowing your employee, not only during hiring, but SOLUTIONS – OPSRISK EXCELLENCE SOLUTIONS. We accept project-based operational risk management framework implementation. Beyond compliance to regulations, we think of the end-to-end sound governance, heightened culture of risk awareness and competitive advantage which operational risk management will bring to the financial institution and in the industry. Projectcomponents are:
ABOUT US – OPSRISK EXCELLENCE About Us. OpsRisk Excellence by Operational Risk Management Architecture , Inc. (Risk Architecture) is a non-profit outfit aims to provide advisory, training, risk management systems, and data management. OpsRiskExcellence facilitates sharing of risk events,ideas and
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions INSIGHTS – OPSRISK EXCELLENCE Challenges in Operational Risk Management Transformation. The common challenges in transforming Operational Risk Management Framework from Basic Indicator Approach to Standardized and Advance Measurement Approach is enormous. COVID-19: TOP RISK MANAGEMENTS TOOL TO USE Covid-19 has shown how volatile our environment is. It underscores the need for better risk management. As of this writing, there is no light yet on how it will end.ORM ENHANCER
It is not a limit, rather it’s the level in which higher level of management should be informed. (4) Process Mapping “The whole of risk management process is greater than the sum of its parts”. (5) ORM Quant “You cannot manage well, what you cannot measure”. (6) Consumer Protection (EOY2017)“Protecting customers is protectingyour
ONLINE RISK OFFICER
We accept online projects on Risk Management. Our personnel are former risk officer/s who worked in various global and local banks, thus we understand the importance of confidentiality, conflict of interest and ethical services in the engagement.RISK SOCIALIZATION
Positive SSL. Share a risk incident. Share a risk event or an incident from either news or a verifiable & reliable source. By socializing an incident, we caution and provide others an opportunity to learn. RISK MANAGEMENT DISCIPLINE IN GOVERNMENT INSTITUTIONS Risk Management Discipline in Government Institutions. Managing risk is innate in individual and every society. Noah’s ark and prehistoric tools are evidence of managing risks of flood and extinction. Managing risk became a formal discipline in 1980s. It evolves into a regulatory requirement in 1990s and, today a standardfunction in
MEMBER LOGIN
Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions ACTIVITY – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government Institutions JOIN – OPSRISK EXCELLENCE Sumali sa Operational Risk Management Excellence Forum para sa karagdagang kaalaman sa pag-implement ng Operational Risk ManagementFramework.
ONLINE RISK OFFICER
We accept online projects on Risk Management. Our personnel are former risk officer/s who worked in various global and local banks, thus we understand the importance of confidentiality, conflict of interest and ethical services in the engagement. JOIN US – OPSRISK EXCELLENCE Your Source of Best Practices in Operational Risk Management. ORMA. Insights. Risk Management Discipline in Government InstitutionsREGISTRATION
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RISK & REWARD: THE HOLY GRAIL OF AGRI-AGRA LENDING Banko Sentral ng Pilipinas (BSP) has requested an amendment to Republic Act 10000 or the Agri-Agra Reform Credit Act which requires banks to allot at least 10% of its total lending portfolio to agrarian reform beneficiaries and 15% to farmers and fisher folks.Skip to content
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PHL: ENHANCE OPERATIONAL RISK MANAGEMENT In July 21 news, the value of shares in the Philippines’ second-largest bank fell Friday after it was hit by fraud, which reports said may amount to nearly $50 million. The newspaper Philippine Daily Inquirer quoted unnamed bank officials as saying one of Metropolitan Bank and Trust Co.’s vice presidents has been arrested for diverting between 900 million and 2.5 billion pesos (between $7.7 and 49.3 million) in bank funds. Last month, a programmer’s error in Bank of the Philippine Islands (BPI), the oldest and 3rd largest, resulted to erroneous credit & debit of various customers which even lead to a senate hearing. Prior to this, the largest bank, Banco de Oro (BDO) was accused by a city mayor for alleged tax fraud after the branch declared gross annual revenue of only Php 400K (US$8,163) in 2016, not even enough to pay the salary of a bank manager. In 1st quarter 2016, RCBC’s Bangladesh Bank US$81 million heist happened where funds hacked from the central bank of Banghladesh was remitted to RCBC, laundered in casino and some are withdrawn. There was a recovery, but the bank was slapped with Php 1 Billion (US$20 Million) penalty. While there are sufficient capitalization to absorb losses , the banks need to enhance their operational risk management. The four incidents are all operational risk, which is defined by Basel II Committee as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. Thus, improving the way they manage risk is anecessity.
More often banks are highly focused on Credit Risk, the risk of non-payment and non-recovery of loan and Market Risk, risk due to changes in interest rate, foreign exchange, etc. While their corresponding management disciplines are aimed in protecting assets and the profit taking activities, bank’s senior management must provide the same attention and resources to Operational Risk Management. Oftentimes, banks think of Operational Risk Management as a cost. These could be because Operational Risk Management is implemented for mere regulatory compliance purposes. Bank’s senior management must be advised that Operational Risk Management (ORM) hastens, not slowdowns business activities. The perspective that ORM is a cost and more often as a show stopper rather than steerer towards profit, arise if the discipline is not being implemented properly. What is a good operational risk management? To name a few among several tools and processes, good operational risk management means forward-looking risks are escalated and discussed in an open & transparent environment. More often risks incidents are discussed after it occured and the damage – monetary or non-monetary has been done This what is called reactive risk management. What is needed is a proactive risk management. Escalation and discussion of forward-looking risk in a methodical manner is a tool necessary for anticipating and preventing risks. Another is Know-your-employee (KYE) program. Knowing-your-client (KYC) and Knowing-your product (KYP) are important. Knowing your employee, not only during hiring, but as they live and work in the bank is far more important. It is not enough to know the employee upon hiring. It is a must to know the employees as their lives change. They spent more of their time in the office than at home. Any change will affect the way they do their tasks. Significant change in employee’s behavior should be spotted before high impact risk incidents occur. With an implementation fitted to the culture of the organization, KYE program is a very dynamic risk management tool which can pro-actively address the risks rooted from personnel behavior. Lastly, Information Technology and Risk Governance Frameworks must be dynamic. The Board of Directors of each institution has a designated committee for Information Technology as well as for Risk Management. Nevertheless, sometimes governance are purely on a boardroom-basis only. Decisions are based on periodic information technology and risk management reports . The challenge is how often the board of directors rolled up their sleeves to meet the people who are actually doing the tasks. One may rationalize that it can be delegated to a unit, say quality team or a 3rd party survey. Likewise, it may be construed as managing instead of oversight. However, it has always been more effective if the members of Board of Directors Committee, really know what they govern beyond reports and documents. Board of Directors should know the intricacies of the product, processes and should be able to experience what their bank is offering to the public. Approval and notations by a committee member is not sufficient for governance. Committee members should be able to ask pointed questions , then grill and challenge the management. Management are often focus on day to day tasks and the full year internal plan. Committee members could help by looking at the bank in the perspective of outsiders and how the bank is prepared for the future of banking and technology and worst scenarios. Overall, an effective Operational Risk Management is asking the right institution-specific and business-specific questions and implementing the right programs, which are tantamount to preventing risk and finding the right solution. It has been said by 17th century thinker that a ship is not a ship if it remains in harbor. In similar manner, a bank is not a bank if it does not take risk. However, given the technological changes where risk can arise in a click of a mouse, the Philippine institutions must change its understanding and paradigm towards risk and controls and spend sufficient resources for Operational Risk Management.Author (s)
Jorge Dioneda
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