Operational Risk Management (ORM) – and especially IT risk management – is a specific discipline that aims to improve the resilience of organizations against potential disasters related to the use of technology in business processes. Operational risk management and Enterprise Risk Management (ERM) must work together to enable the organization to monitor and manage the evolution of its overall risk profile. However, traditional risk management (ERM) and IT risk management often struggle to agree on a common understanding of real risks to the business.
In this context, the internal IT control system (ICS-IT) must serve as a control environment enabling the IT department to monitor operational risks and treatment measures, supporting decision-makers in their risk management process. By doing so, compliance of the IT organization with external requirements (laws, regulations, industry standards, best practices, etc.) and internal requirements (company policies, standards and procedures) makes it possible to set up a continual improvement program, for the IT department as well as for the whole organization.
Implementation of good operational risk management practices and development of an internal control system for IT (ICS-IT), adapted to the organization’ specific situation, must make it possible to manage the operational risks and the compliance of the IT organization according to business requirements.
Key questions for decision makers:
Our services in the area of risk and compliance management aim to create a virtuous circle for taking advantage of the standards imposed in order to continuously improve the risk posture of the IT organization: