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"Risk comes from not knowing what you're doing" - Warren Buffet, American businessman, investor, and philanthropist.
When managing the business, ignoring the operational risk is not an option. The businesses that can succeed in this tough competition efficiently are those that manage operational risks. While there is no way to eliminate such risks, professionals can tackle them effectively.Â
Operational risk management (ORM) involves diversifying risks into categories such as individual, technology, and regulatory risks. When these risks are addressed with a structured process, risk identification, assessment, and mitigation, the businesses can survive even the most complex situations.Â
Silicon Valley Bank Failure: A Gloomy Example of ORM Failure
Silicon Valley Bank, a major financial institution, suffered catastrophic failure in March 2023. The bank management's inability to identify and mitigate the risk factors was at the core of this failure. Internal control of the bank was lost, regulations were not followed, financial instabilities were not identified, people involved with the bank (customers and management) were not appropriately vetted, and regulatory compliances were not followed.Â
Moreover, the bank failed to identify security risks, credit risks, and market conditions. Result? One of the most significant banking catastrophes in modern history. This example highlights why organizations need robust ORM teams and strategies. Without a structured strategy, businesses might be unable to tackle the risks.Â
While risk management is complex and demands a multi-pronged approach, it can be achieved with the proper tools. At Slide team, our experts have designed multiple, content-ready, 100% editable Operational Risk Tracking and Monitoring templates. These templates can help risk management team quickly present the existing risks, steps that can be taken to mitigate them, and areas that need maximum attention. The final decision-makers can get a clear insight into their organization's risk capabilities.Â
So, let's check out these templates individually and understand how they can assist.Â
Template #1: Operational Risks Tracking and Monitoring KPI Dashboard Operational Risk Management
Operational Risk Management is the field where the amount of data collected daily is colossal. Another issue is managing complex risk assessment models and urgent decision-making needs. On the top, businesses are often at risk of potential financial losses and reputational damage. In short, the risk management team needs something that can streamline and present the entire data set concisely and indigestibly. That's when these templates come in handy. Designed to simplify operational risk management, this template presents the crux of the scenario on one page.Â
This template gives a clear view of performance metrics, risk areas, and trend monitoring. Such a comprehensive layout helps detect anomalies and swift action. Its visual elements, like individual performance scores, status indicators, and trend graphs, offer a clear visual narrative to the decision-makers. For instance, the average score trends across months can alert managers to seasonal fluctuations or the impact of strategic decisions on risk levels. In a nutshell, this KPI dashboard template can simplify the entire operational risk management process for you. So download it right now and enhance your operational plan like a pro.Â
Template #2: Operational Risk Management Key Metrics Dashboard Risk Management and Mitigation Strategy
Need something more detailed and professional to manage your operational risks? Here’s a more comprehensive operational risk management dashboard. This template covers important elements like the total number of open and closed risks. The most critical component of the template is the "Operational Risk by Rating" pie chart. This chart categorizes the risks based on their severity. Such categorization helps the managers understand the risk distribution easily. Another key element is "Operational Risk by Month ."This section can help the managers understand the risk trends and take proactive steps to mitigate those risks.Â
On the top, the dashboard also has an "Operational Risk List" that specifically logs the operational risk list, along with the date and other specifications. Such granular risk tracking ensures nothing slips out of the cracks. Overall, this template offers a clear and comprehensive snapshot of the project risk profile, enabling simplified handling and risk aversion. All you have to do is download it, customize it per your project needs, and present it to the leadership. Downlaod it today and simplify your operational risk mitigation process.Â
Template #3: Operational Risk and Security Scan Compliance Dashboard
Regular scanning of the vulnerabilities and risks is part of any operational risk management process. However, as the data stream is expansive, presenting it in a streamlined manner is a challenge. This template simplifies this challenge by putting all the data into a visual format. This templateoffersr amulti-angled view of an organization's risk and security posture. The dashboard is divided into distinct sections, each offering critical insights. The 'Operational Risk Profile' visualizes risk distribution and categorizes it as high, medium, or low; this allows a swift identification and prioritization of the risk that needs immediate attention. Then, the 'Operational Risk Trend' line graph tracks changes over time. This helps understand a historical risk-level perspective and helps with trend analysis and forecasting.
On the other side of the dashboard, the 'ABC Scan Summary - Security' section dives deeper into the specifics of security vulnerabilities. It quantifies the outdated version libraries and presents a score-based vulnerability distribution. This snapshot is essential for IT and security teams to pinpoint areas most susceptible to breaches. Finally, the 'XYZ Scan Summary - Security' provides a focused view of a particular application or area of the organization. In short, this template efficiently covers all the critical operational risk management elements.Â
Template #4: Operational Risk Management KPI Dashboard Approach to Mitigate Operational Risk PPT Topics
This multi-colored template can help you present the operational risk management data in a very attractive and simplified format. The dashboard integrates multiple Key Performance Indicators that offer a detailed insight into multiple factors of operational risks. The template classifies the operational risks into three categories: High, Medium, and Low. This ensures the leadership understands what area needs immediate attention to the issue. A pie chart represents the control performance and splits the controls into multiple categories like Effective-High', 'Effective-Medium,' and 'Effective-Low.'Â
A pie chart also indicates open issues and their impact on the business. Then comes the classification of the risks based on the types. This categorization helps the decision-makers understand the primary risks and how severe they are. Then, there is a risk map that indicates the impact of the risk and its likelihood. Overall, this dashboard offers an integrated view of operational risk, serving as a vital instrument for risk managers to track, prioritize, and respond to operational risks effectively.
In a Word
Operational Risk Management is a critical aspect of business that requires a keen eye and a sharp mind to come together and prepare a reliable strategy. With the right tools, like these operational risk management templates, the job becomes super easy and more efficient. This suite of templates designed by our experts is like a master key that unlocks clarity in a sea of data and brings forth order to potential chaos.
From tracking and monitoring KPIs to delving deep into security scans and compliance, these templates cater to the subtle needs of modern businesses. Theysimultaneously offer a bird's eye view and a granular analysisto ensuret no stone is left unturned in safeguarding an organization's operational integrity.
