Abstract of the Risk Reporting Chapter from Dr Chapelle's book: Operational Risk Management: Best Practices in the Financial Services Industry” (Wiley, 2018)
Selecting the right GRC system for your organisation and then implementing it successfully is a significant undertaking. To help you, this paper covers some key steps to follow, as well as pitfalls to avoid, when selecting and implementing a GRC system.
ICAAP and Scenario Analysis
The Internal Capital Adequacy Assessment Process (ICAAP) is a process through which financial institutions assess their regulatory Pillar II capital. Scenario analysis is an essential tool used to quantify risks.
Risk Appetite and KRIs
Risk Appetite is "the degree of risk, on a broad-based level, that a company or other entity is willing to accept in the pursuit of its goals". Risk Appetite KRIs help us monitor and manage the risk appetite of a firm.
