Back to processes

Over the past few years, many have pointed out the wisdom of approaching op risk from a business process perspective, but few have taken up this challenge. Now, firms are dusting off their Six Sigma playbooks and looking at how business process analysis can be the first step to identifying operational risks and preventing losses. Victoria Pennington reports

At most conferences on operational risk, there is often a section on what happens beyond Basel II implementation, usually coupled with a session on how operational risk management adds value to the business beyond regulatory compliance. But surprisingly, few speakers discuss the benefits of integrating business process management (BPM) with compliance and op risk management. This is partly due to