Operational Risk Management 2.0

20. July 2009

Severn´s innovative ORM 2.0 approach takes Operational Risk Management to the next maturity level

The organisational acceptance and behavioural change in the business units are key success factors for a sustainable Operational Risk Management (ORM). Severn’s ORM 2.0 approach operates at all levels, economically achieving an efficient capital allocation and regulatory being compliant with legal requirements (e.g. Basel II and Solvency II) at the same time considering bonuses and remuneration.

In developing ORM 2.0 over the last three years, Severn Consultancy blended recognised, best practice based on practical expertise and exchanges of information with international risk managers as well as external auditors with input from a financial regulator. It is now operational in three major financial institutions.

The advanced ORM 2.0 approach was first introduced at the International CRO Summit in May 2009 in the German seaside resort Heiligendamm. Severn presented their new holistic approach which links Roles & Responsibilities and Governance & Operating Models to enhanced Management Reporting and an advanced Incentive and Sanctioning System (ISYS). ISYS operates from corporate level, down to the business unit and individual levels. The system is flexible and relevant for global and boutique operations.

To have a look at the key success factors of ORM 2.0 please click here.

For further information – e.g. the ORM 2.0 presentation of the International CRO Summit (in german) – please check our downloads and login today!

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