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Stressed Man

Simplify Operational Risk

Answer 3 questions to accurately identify every operational risk for your fund

Context First
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Which comes first, the context or the risk?

The old way involves identifying a risk and then adding the context, it is something you do every so often. The new way, starts with the context and asks you to identify a gap. It is about making it quick and easy anytime you think something is not right.

Risks, Issues, Changes and Exceptions are gaps. With teams operating in different time-zones and with different points of view adding context and being consistent can be a real challenge. Knowing what questions to ask so everyone can participate can also be difficult. A Digital Operating Model provides the end to end context and is accessible to everyone who needs to know. That means your teams are just 3 questions away from accurately identifying every Operational Risk...Issue...Change...Exception.

What is happening?

The first question deals with Operations reality by objectively  establishing what is currently happening

What should be happening?

The objective of the second question is to establish a gap by identifying what should be happening 

What is the solution?

The final question is to get feedback on the proposed resolution by identifying how the gap can be closed

Levels - GMO

Hierarchical Digital Operating Models enables risk identification at Governance, Management and Operations levels 

Single Register

Process Centric

Each process is an activity statement that provides the business context. The 3 questions provide a consistent approach to gap definition for all team members. The questions used for Risk identification are used for Issues, Changes and Exceptions.

Risk Management Lifecycle

Digital Operational Resilience

Fund Elements solution makes it easy to identify Operational Risks as the Fund's Operating Model documents the level of precision required by each team member.


Identify what is happening and what should be happening


Evaluate the effectiveness of the proposed solution


Monitor the results and adjust based on feedback


Assess risk likelihood, impact and determine priority


Implement change in line with the agreed solution

“The different levels of details in the Operating Model allow the fund's Management to build up a view of risk based on Operations Teams feedback and break down Governance level risk themes”

Chief Risk Officer - Umbrella Fund Structure

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