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Building an Effective Operational Risk Management Framework
The episode explores the challenges of creating effective Operational Risk Management (ORM) frameworks. It highlights common pitfalls such as overcomplication, siloed responsibilities, and a reactive approach. The ideal framework, the text argues, should be simple, practical, and integrated into daily operations, fostering a proactive risk-aware culture. Examples of successful implementations in leading firms are provided, illustrating key components such as clear governance, risk identification processes, and continuous improvement. Ultimately, the episode emphasises that a successful ORM framework contributes to organisational resilience and informed decision-making.
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Published on 11Β months, 2Β weeks ago