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Qualitative Risk Assessment

QUALITATIVE RISK ASSESSMENT

Main challenges faced by our clients.

  • Adopting a common framework for Internal Audit, Risk, Compliance and Internal Control Functions, supported by routine management information reporting
  • Following a standard approach for the management of non-financial risks, through shared risk control procedures

Solutions we deploy to address them.

Non-Financial Risk Management Frameworks Review

  • Review of the internal control framework in place (e.g., organization of the levels of defence, delegation scheme and authorities, process and control owners, internal control statement) including a review of the risk control assessment procedures (e.g., RCSA, templates and reporting)
  • Gap analysis of Non-Financial Risks Management (qualitative risks such as strategy, reputation, operational risk, compliance), including risk taxonomy, risk appetite, qualitative risk assessment (top-down vs. bottom-up approach), reports (up to the Risk Dashboard)

Compliance Frameworks Review

  • Review of independent compliance function frameworks and associated risks (anti-money laundering, conflicts of interests, markets in financial instruments, market integrity, product intermediation, financial sanctions, privacy, ...)

Non-Financial Risk Management Frameworks Implementation

  • Integration of Non-Financial Risks in a single framework, covering operational, compliance, strategic and reputational risks

  • Formalization of the Non-Financial Risks management strategy into charters and foundation policy, supported by guidelines and procedures

  • Set-up the operational risk management practices (as a key pre-requisite to advanced approaches)

  • Delivery of a Non-Financial risk dashboard (top-down and bottom-up reporting model) as an input for a Group Risk dashboard

Compliance Frameworks Implementation

  • Support in designing, enhancing and implementing the independent compliance function framework

  • Support in developing the interaction with the different lines of defence

  • Support in developing, enhancing and implementing specific compliance risk management frameworks (anti-money laundering, conflicts of interests, markets in financial instruments, market integrity, product intermediation, financial sanctions, privacy, ...)

Non-Financial Risk Management Dry Run

  • Support in the Non-Financial Risks assessment (as part of the Internal Control)

  • Support in the RCSA / Internal Control process execution, up to the delivery of the local regulatory Non-Financial Risk report (e.g. Internal Control Statements)

 

Stakeholders

• Chief Risk Officer
• Chief Compliance Officer
• Head of Audit
• Head of other Controls



  describe the image Financial Risks
  describe the image Risk Models
  Risk Appetite
 
Stress Testing

 

Enterprise Risk Management