MaRisk Operational Risk

MaRisk requires financial institutions to implement comprehensive operational risk management frameworks covering risk identification, assessment, monitoring, and mitigation. Key requirements include establishing appropriate governance structures, implementing risk and control self-assessments (RCSA), maintaining loss data collection systems, conducting scenario analyses, defining key risk indicators (KRIs), and ensuring adequate documentation and reporting to management and supervisory authorities.

ADVISORI provides end-to-end support for MaRisk operational risk management implementation, including operational risk framework design, RCSA program development, loss data collection system setup, scenario analysis methodologies, KRI definition and monitoring, governance structure establishment, technology platform implementation, staff training, and ongoing optimization. Our approach ensures full MaRisk compliance while building sustainable operational risk capabilities.

RCSA is a systematic process where business units identify and assess operational risks and evaluate the effectiveness of existing controls. It is important because it provides forward-looking risk insights, engages business units in risk management, identifies control gaps, enables proactive risk mitigation, supports risk-aware culture development, and fulfills MaRisk requirements for comprehensive operational risk assessment.

MaRisk requires systematic collection of operational loss data including internal losses, near-misses, and external loss events. Data should be categorized by event type, business line, and root cause, analyzed for trends and patterns, used to validate risk assessments, inform scenario analyses, support capital allocation decisions, and drive continuous improvement. ADVISORI helps establish comprehensive loss data collection systems integrated with risk management processes.

KRIs provide early warning signals of emerging operational risks by monitoring metrics that indicate changing risk levels. Effective KRIs enable proactive risk management, support timely decision-making, facilitate risk monitoring and reporting, trigger escalation when thresholds are breached, and demonstrate risk management effectiveness to supervisors. ADVISORI helps define, implement, and monitor KRIs aligned with your operational risk profile.

Scenario analysis evaluates potential operational risk impacts under various adverse conditions, helping institutions understand tail risks, assess adequacy of controls and capital, identify vulnerabilities, test business continuity plans, and fulfill MaRisk stress testing requirements. ADVISORI develops tailored scenario analysis methodologies combining quantitative modeling with expert judgment to provide actionable risk insights.

MaRisk requires clear operational risk governance including board and senior management oversight, dedicated operational risk function with appropriate authority and independence, defined roles and responsibilities across three lines of defense, risk committees with operational risk expertise, escalation procedures for significant risks and incidents, and regular reporting to management and supervisory bodies. ADVISORI helps design and implement effective operational risk governance structures.

Technology platforms enable real-time risk monitoring, automated data collection and analysis, integrated risk dashboards, workflow management for RCSA and incident management, advanced analytics and AI for risk identification, regulatory reporting automation, and enhanced collaboration across risk functions. ADVISORI implements technology-enabled operational risk solutions leveraging leading platforms and custom integrations.

Operational risk management and business continuity management are closely linked, with operational risk assessment identifying critical processes and vulnerabilities, business continuity plans mitigating operational disruption risks, business continuity testing validating operational resilience, and both frameworks supporting overall operational risk management objectives. ADVISORI ensures integrated approaches that leverage synergies between operational risk and business continuity management.

MaRisk requires regular operational risk assessment updates, typically annually for comprehensive RCSA reviews, quarterly for KRI monitoring and reporting, immediately following significant incidents or control failures, when business changes occur (new products, processes, systems), and when external risk environment changes materially. ADVISORI helps establish appropriate assessment frequencies and continuous monitoring processes ensuring operational risk management remains current and effective.