Private banks in particular face high operational and reputation risks as a result of their business model. Size, volume, international activities, individual and manual service processes are major drivers in this playing field. Additionally, the financial system in which banks are operating is subject to anticipated changes, inducing increased reputation exposure for the individual entity.
Lately, we have seen investments in the Private Banking area leading the operational risk function towards an integrated enterprise risk management and the establishment of controls and monitoring capabilities including a supporting IT infrastructure.
Creating a strategic advantage by reducing downside risks may be driven by initiatives in IT, organisation, processes, control systems, risk governance and identification, as well as economic and regulatory capital initiatives.
Our industry experience provides you with a clear picture of current and planned practices in operational risk management. We can support you evaluating your current risk identification methodologies, and help you unlock potential for a pro-active prevention of operational risks through early identification and ongoing valuation, monitoring and control.