Compliance services

Operational risk assessment

FCA has set out requirements for firms to identify, assess and document their operational risk policy based upon the adequacy of their systems and controls. Every firm has the responsibility to identify the higher risk areas in its operations and to put in place processes to avoid or control them. FCA is contacting newly authorised and existing firms to see what measures they are implementing in this regard.

Failure to assess and formulate an operational risk profile may result in a higher capital adequacy requirement under Basel 2 in the future.

Axiom will:

  • Carry out an independent, wide ranging risk assessment of your firm
  • Highlight weaknesses in your systems and controls
  • Recommend controls to mitigate those weaknesses
  • Formally document your operational risk policy