In many organizations, risk management initiatives are being frequently managed in haphazard and fragmented ways. Many organizations lose sight of the big picture and do not sufficiently link different risk management activities in implementation. Some risks get identified and managed, but only with limited coordination. Other key risks get less priority and go off the radar screen. Many activities are restricted to a controls-based or regulatory-compliance approach with individual requirements being managed too narrowly. For successful implementation it is crucial to begin with a roadmap which is encompassing of all ‘risks’ and can address the priorities as well as lay the route for achieving overall objectives.
Aptivaa can support banks in the creation of a cohesive implementation plan to meet their business strategies. This entails:
- Identifying organization specific ERM functional components and defining priorities
- Developing an Implementation roadmap across the functional components