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Article: Getting to know RMA's OpRisk Tools[SM]: Part 4: what are the implementation challenges? How do we maintain the momentum?(Operational Risk, Risk Management Association)
- Article from:
- The RMA Journal
- Article date:
- April 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 The Risk Management Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OpRisk Tools[SM] is a comprehensive, online, risk management solution developed by RMA to help all institutions--especially those between $100 million and $5 billion--manage operational risks from inadequate or failed internal processes, people, and systems, or from external events. The Sarbanes-Oxley module assists those required to conform to SOX 404 as well as those who wish to gain better control of their risks by complying with this regulation. Charles Taylor, RMA's director of Operational Risk, led the development of OpRisk Tools.
Doing business presents challenges and risks. Each institution must determine its own risk appetite and the extent to which it's ...