Scaling op risk Management for SMIs: Key risk Indicators

In the fifth of the series, Eric Holmquist looks at what constitutes effective key risk indicators and how they can be practically implemented

The topic we address in this issue is not unique to operational risk but is certainly crucial to its success – key risk indicators (KRIs). The reason that KRIs are such a powerful component of op risk management is that they address, perhaps better than anything else, the two most important aspects of the discipline, risk awareness and response to change. They are what gives life to risk assessments and are at the heart of effective risk management. The reality is that every institution that