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Meeting the Challenge

A number of key questions arise as a result of the Basel Committee and Corporate Governance requirements for which bank boards and management are responsible:

    Do the Board and Senior Management know the operational risks that their business faces?
  • For each identified risk, is there a clear and accountable ownership within the business?
  • Are the risks that have been identified controlled, adequately and consistently?
  • Has the potential impact of a risk occurring been measured and the probability of occurrence estimated?
  • Is there a system in place to ensure that operational risks continue to be identified and adequately controlled?
  • Is there a reliable reporting system in place?
  • Does the Bank have an accurate and valid process for recording operational losses and identifying the causes of such losses?

There are many potential risks, which can threaten an organization. A systematic approach is required to identify where the risks lie, what controls should be implemented to mitigate them, how effective the system of internal control is in mitigating those risks and which risks can be accepted based on the Bank’s assessed appetite for risk.

Aldar International for Governance Consultancy has adopted a unique software (Control And Risk Evaluation CAREweb™) which meets all the requirements for Operational Risk Management noted above. The software provides a systematic, consistent and effective approach to the recognition of operational risks, the effectiveness of internal controls in mitigating those risks and to the measurement of the bank's operational risk profile. It provides reports which enable the board and management of a bank to understand the bank's operational risk profile, determine where improvements and enhancements to the control environment are required, prioritize such changes and measure the results. Above all, CAREweb™ is extremely flexible to meet the needs of individual organizations.

For more information about CAREweb™, please Click Here .

Advantages of Alyafi Group Methodology

    Understanding and awareness of operational risks at all times and at all levels
  • Consistent approach to Operational Risk Management
  • Development and enhancement of a control culture: all staff must be involved in the process
  • Acceptability to regulators of the process for managing and measuring operational risk, thus reducing capital charges and related capital costs: capital is freed up for more productive and profitable purposes
  • Can be used to control and manage, through the development of generic matrices, specific operational risk elements inherent in all banking operations, e.g. money laundering, Know Your Customer requirements, Internet banking, etc.
  • Enables board and management to carry out their corporate governance responsibilities in ensuring the bank has an effective and consistent approach to operational risk management and that the board and management are provided with adequate and accurate information to enable informed decisions to be made regarding operational risk management.
  • Our entire methodology is supported by detailed training courses.

Alyafi Group Approach – Flow Chart

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