Operational Risk Management
In order to meet the challenges of operating in today’s competitive environment and to raise the efficiency of operations, it is essential that a bank understands and evaluates the risks that its business entails and ensures that adequate and effective controls are in place to mitigate these risks.
Operational Risk Management (ORM) is a process whereby the diversity of adverse events, which can prevent an organization from realizing its objectives, are recognized and appropriate levels of control are implemented to mitigate the likelihood and impact of the risks occurring.
We have been providing Risk Management advisory services to financial institutions since 1999. Having helped more than 30 well-known financial institutions (mainly banks, Insurance companies and Investment firms) in the Middle East region implement Operational Risk Management solutions, Aldar International for Governance and Consultancy is now considered a leader in the sector. We have managed to develop and complete data generic risk profiles for all functions of a bank (Corporate Credit, Treasury, Trade Finance…etc). This database helps facilitate implementation across the bank’s various Business Units and ensure that all major risks are identified.
One of our consultancy strength points; is its experience in providing Risk Management solutions to Islamic Banks, we have developed a unique approach to meet the requirements of these specialized banks. Our methodology not only leads to genuine improvements in the bank’s control environment but also meets all Basel II and other regulatory requirements relating to ORM.