Operational risk has always been difficult to quantify and fold into a general quantitative risk management strategy. By deploying OpRisk assessments, risk management departments can identify trouble spots and deploy ORM practices to mitigate that risk.

This use case involves a questionnaire digging into departments’ operating processes, compliance, fraud prevention practices, continuity strategies, and vendor management. Once data is collected, assessments can be monitored over time to see how departments are responding to mitigation strategies. Some organizations choose to measure operational risk with multiple choice responses which can then be filtered through the NoCode Rules Engine to assign scores and provide high level risk awareness in little time.