Operational risk can harm the organization’s reputation or financial position and above all the organization will fail to achieve its business goals and objectives. Understanding these risks, leads to better risk informed decisions, can improve business activities and implement wise risk mitigation and management controls.

To identify, assess, monitor and report the risks to which an organization may be exposed currently or potentially. WisePro Consulting will assist your organization in developing risk strategy, risk appetite statement, policies and procedures and to implement these, delivering communications and training awareness sessions across your business lines and functions.

We will support you to develop and adopt a systematic approach. First phase, risk identification using workshops, surveys and risk registers. Once identified, as a next step we will support your organization to systematically and accurately assess risks. Third phase, risks should be grouped into any of four techniques to manage risk avoidance, reduction, transfer and retention. Developing monitoring tools for continuous monitoring and review of controls to evaluate its effectiveness in an internal control system.