What is operational risk management?
Operational risk management is how your organization identifies, assesses, mitigates, and monitors the potential threats and challenges that emerge in day-to-day business operations. A strategic mix of technology and best practices helps minimize the likelihood of disruptions, reputational damage, losses, litigation, or other potentially concerning events stemming from internal or external factors.
Managing internal risk is only half the battle.
Businesses today have gone from on-site server rooms to third-parties, cloud providers, etc, but outsourcing services does not outsource the risk. As your network grows, you are responsible for ensuring your vendors, partners, and other third parties are complying with your policies and procedures.
Extend compliance and get better visibility into every corner of your enterprise and vendor network for more complete, comprehensive operational risk management today.
Keep you and your vendors compliant in every region where you operate.
Risk is no longer bound to your headquarters. As regulations continue to shift and your employee or vendor networks expands, so does the scope of your compliance responsibilities. Explore which geographic regulations you need to keep an eye on and which related parties you need to extend internal policies and procedures to as your network grows in our Regulations Without Borders Infographic.
Eliminate the common frustrations of managing operational risk.
It feels like a new regulation comes out every day — and the scope of these regulations has also grown as our networks have. Traditional, manual methods for monitoring and controlling both enterprise and vendor operational risk can’t keep up, which is why strategic teams are turning to technology to:
- Gain visibility into operational risk before operational or compliance failures occur — wherever they occur – within your enterprise or across its vendor network.
- Proactively monitor, audit, analyze, report, and take preventative or remediating steps with exceptional speed and efficiency.
- Become agile and gain surety in meeting obligations under a growing universe of regulations
- Realize quick ROI as your new tools not only reduce penalties but eliminate the time and resource drain of previous approaches.
- Create a single source of truth to enable better compliance and quickly comply with evidence requests from auditors.
- Avoid compliance penalties, reputational damage, or other costs.
What do you gain from more efficient operational risk management?
Continuous Monitoring
Avoid activity peaks and paint a more accurate picture of your risk landscape with ongoing management and identification of operational risks.
A Focus on Data Sources
Break down operational silos for fast and direct insights into core risks across the organization.
Process Centricity
Deliver better risk transparency for decision makers with a holistic, 360-degree view of your risk profile and inventory.
Start today and scale tomorrow with Mitratech’s complete enterprise compliance suite.
Mitratech offers a top-to-bottom, end-to-end software portfolio that delivers visibility and oversight into every aspect of your operational risk and compliance management. We’re the trusted partner in providing obligations & regulatory management, policy & procedures management, data privacy management, Information Governance, and operational risk management. You’ll also benefit from Mitratech’s tradition of delivering outstanding performance, ROI, and quick time-to-value, along with rock-solid reliability and a 100% focus on client success. It’s why we’re relied upon by over 10,000 organizations in 160+ countries.
We have a proven track record of helping teams proactively monitor and mitigate operational risks like never before.
Explore Mitratech’s Comprehensive Solutions for Operational Risk Management.
Whether you are a company with 100 employees or a Fortune 100 enterprise, your operational resilience and reputation depend on your ability to establish a culture of compliance that reaches every corner of your organization. Mitratech delivers everything needed to communicate, test, and streamline those compliance requirements today, plus the analytics and agility to iterate on and scale your best practices tomorrow. All in one place, and all with one trusted partner.
Mitratech’s Morning Show
Tune in every month for an exciting conversation with one of Mitratech’s industry experts.
Each episode will bring to the spotlight a key GRC use case.
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