Manajemen Risiko Operasional || Nazwa Az-zahra

Summary

In this presentation, Nazwa Azzahra, a Public Administration student, explains the concept of operational risk management in organizations. She defines operational risk as the potential for loss due to failures in internal processes, human error, system malfunctions, or external events like disasters or cyber attacks. Using a logistics company as an example, she illustrates how operational risks can disrupt operations and lead to customer complaints. Nazwa emphasizes the importance of identifying, assessing, and managing these risks through strategic control measures, continuous monitoring, and employee involvement across all levels of the organization. She concludes by highlighting that while operational risks cannot be fully avoided, they can be managed and turned into opportunities for improvement.

Takeaways

• 😀 Operational risk refers to the risk of loss due to failures in internal processes, human error, system malfunctions, or external events like disasters or cyberattacks.
• 😀 Operational risk is distinct from strategic or market risk as it directly relates to day-to-day operational activities.
• 😀 Real-life examples of operational risks include issues such as system failures causing delays and customer complaints.
• 😀 There are several sources of operational risks, including inefficient internal processes, human error, system failures, and external events.
• 😀 The first step in managing operational risk is identifying the potential risks by analyzing operational processes and identifying risk-prone points.
• 😀 After identifying risks, they must be assessed by considering their likelihood and the potential impact on the organization.
• 😀 Developing a risk control strategy is key to managing operational risks, which may involve improving SOPs, employee training, and using technology to reduce errors.
• 😀 Operational risk management requires continuous monitoring and evaluation as risks evolve over time.
• 😀 Technology plays a dual role in operational risk management: it can reduce risks through automation and software, but also introduce new risks, particularly in data security and cyber threats.
• 😀 A comprehensive operational risk management approach involves all levels of the organization, from top management to implementing staff, ensuring awareness and participation in maintaining reliable work processes.
• 😀 Operational risk cannot be fully avoided, but with proper management, it can be controlled and even transformed into opportunities for improvement.

Q & A

What is operational risk management?

Operational risk management refers to the process of identifying, assessing, controlling, and monitoring risks that arise from failures in internal processes, human error, system malfunctions, or external events like natural disasters or cyber attacks.

How does operational risk differ from strategic or market risk?

Operational risk is different because it is directly related to day-to-day operational activities, whereas strategic risk pertains to long-term decisions, and market risk involves factors like fluctuations in financial markets.

Can you provide an example of operational risk?

A logistics company facing a technical issue with its package tracking system, resulting in delays, customer complaints, and disruptions, is a real-life example of operational risk.

What are the main sources of operational risk?

The four main sources of operational risk are inefficient internal processes, human error, system failures, and external events such as natural disasters or cyber attacks.

What is the first step in managing operational risk?

The first step is to identify the risks that may occur by analyzing the entire operational process and pinpointing the areas that are most susceptible to risk.

After identifying operational risks, what is the next step?

The next step is to assess and measure the identified risks, determining their likelihood of occurring and the potential severity of their impact.

How can an organization control operational risks?

Organizations can control operational risks by improving standard operating procedures (SOPs), offering employee training, and utilizing technology to minimize errors.

Why is continuous monitoring and evaluation important in risk management?

Continuous monitoring and evaluation are crucial because risks can change over time, and strategies that are effective today may not be effective in the future, requiring regular review and adjustment.

How does technology play a role in operational risk management?

Technology can both help reduce risks, through automation, cloud backups, and risk management software, but excessive reliance on digital systems can also introduce new risks, especially regarding data security and cyber attacks.

Who should be involved in operational risk management within an organization?

Operational risk management should involve all levels of the organization, from top management to implementing staff, to ensure the reliability and effectiveness of work processes across the board.