NJ Risk and Regulatory Consulting Limited was engaged by a large (C£20bn) pension fund to help them design and implement a new operational risk management framework. NJ Risk spent time to understand the client’s expectations and desired outcomes, and then worked in close collaboration with the client to design a proportionate, simple and effective operational risk framework.
The client also asked us to help them select a GRC system to manage the RCSA process and risk incident collection and help them move away from large spreadsheets and inefficient reporting. NJ surveyed the market and helped the client select a system (Chase Cooper aCCelerate) and then worked with the client and Chase Cooper to configure and implement the system in the client.
The client has now completed 3 cycles of RCSA and is even collecting and learning from near misses. NJ Risk also set up the client’s new Operational Risk Committee and committee MI.
NJ Risk continues to support the client on 2LOD operational risk oversight.