{"id":250562,"date":"2023-04-21T10:35:24","date_gmt":"2023-04-21T10:35:24","guid":{"rendered":"https:\/\/imarticus.org\/?p=250562"},"modified":"2023-07-19T12:29:29","modified_gmt":"2023-07-19T12:29:29","slug":"what-is-operational-risk-management","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/what-is-operational-risk-management\/","title":{"rendered":"What is Operational Risk Management?"},"content":{"rendered":"

Several industries and organisations experience difficulties, particularly in<\/span> risk management<\/span>. These risks mostly result from ineffective internal procedures or external problems that can hamper the operating processes. Operational Risk Management, in such situations, can be regarded as the only breakthrough, as it tends to minimise risks through various processes such as identification, assessment, monitoring and reporting.<\/span><\/p>\n

More like a process, Operational Risk Management allows for decreasing risks via <\/span>financial reporting<\/span> which is prevalent in almost every business organization. After these reports, it is easier for such organizations to estimate where these risks can originate from and how these problems can be easily combatted.<\/span><\/p>\n

What is the importance of Operational Risk Management?<\/strong><\/h2>\n

Since Operational Risk Management eliminates risks by identifying unsafe conditions, it allows to lessen a lot of errors across businesses. The following reasons suggest why these programs are highly important in firms:<\/span><\/p>\n