Companies can often encounter unexpected losses, defects, customer complaints or damages on reputation, machines or people due to operational or process-related problems. Reducing these risks is therefore a process-related issue to consider. At ifss we have deep rooted knowledge in methods for risk mitigation in processes.
Some questions we can answer regarding operational risk are:
- What tools and methods can we use to identify areas in our processes where risks are more prone to occur?
- Can we identify operational risk on processes and quantify the potential damage?
- Is there a structured method to reduce operational risk and can we quantify the impact of risk mitigation?
At ifss we are experts at applying operational excellence to identify areas of risk mitigation. Some areas where we help our clients reduce operational risk are:
- Risk mitigation with the FMEA (Failure Modes and Effects Analysis)
- Employee and customer safety analysis with Lean tools
- Operational Risk mitigation in regard to Basel II/III and Solvency II for financial institutions
- Poke Yoke and failure avoidance for product design
- Structured testing and piloting for improved process deployment