Ensuring effective operational risk management (ORM) remains a very pertinent challenge that banks and financial services companies face today— in part owing to the expanding risk ecosystem. The challenge is exacerbated by the recent emergence of regulatory focus on resiliency, rapid adoption of new technologies, expansion of data accessibility, and the utilization of new business models and value chains.
While there is no one-size-fits-all approach to ORM, it is vital that a common framework is established and followed for managing operational risks. Along these lines, MetricStream is introducing the Comprehensive Operational Risk Excellence (CORE) Model, developed in collaboration with a select group of our customers from across industries.
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