SmartSuite for the Operational Risk Manager

Incident Management logs operational loss events and near misses with the risk and control they relate to, so the loss database the Basel standardized approach relies on is built from the business, not reconstructed at quarter end.

Risks carry tolerance thresholds with automated alerts for deviations, so a key risk indicator moving outside appetite reaches you and the Risk Analyst as an alert rather than as a line in next month's pack.

Risk submissions from process owners route through standardized triage, scoring and approval, so a risk raised on the shop floor enters your register with the same likelihood and impact scale as one raised by the COO.

Each control links to the risks it mitigates with structured scoring and evidence attached, so the Control Owner's self-assessment and the Internal Controls Manager's test results sit on the same control record you evaluate.

Run simulations and stress-test scenarios against the map of services, processes, systems and vendors, so you and the Business Continuity Manager can see what a people or system failure would stop before it does.

Audit and compliance coordination gives auditors clear, connected evidence from risk to control to action, so an internal audit of your unit reads the RCSA record rather than requesting a pack you assemble.

Mitigation and action tracking assigns owners, deadlines and automated reminders, and closure is validated with evidence, so the actions you coordinate with business teams finish with proof rather than a status change.

Risk governance framework enforcement applies the Risk Manager's policies, scoring methodology and assessment standards to your unit, so when the Enterprise Risk Director consolidates, your heat map aggregates without translation.

Use the AI Assistant in a SmartDoc field to summarize assessments and highlight risk trends for the unit, so the narrative you give the COO and the risk function is drafted from the register and your time goes to the judgment in it.

Enterprise Risk Director

The Operational Risk Manager manages the risks arising from people, processes, systems and external events for a department, function or business unit. They maintain the unit's operational risk register, run risk and control self-assessments with process owners, capture and analyze loss events and near misses, evaluate the controls that mitigate operational risk, monitor key risk indicators and escalate breaches, coordinate remediation with the business and report operational risk posture to the risk function and local leadership.

SmartSuite provides department-level dashboards and automated reviews for localized risk review, with the unit's risks linked to the enterprise register in Enterprise Risk Management (ERM). The Operational Risk Manager works in a view of their own unit's risks, reviews run on a schedule rather than when someone remembers, and a change to a unit risk is visible to the Enterprise Risk Director without a separate upload. Incident Management captures the loss events and near misses that feed the register.

Risk and Control Self-Assessment (RCSA) runs RCSA cycles with scored controls and evidence, so control evaluation is structured and repeatable. Each cycle asks the Control Owner to score the controls that mitigate their risks and attach the evidence, the Operational Risk Manager reviews the scores against the register, and the results compare period to period. The Internal Controls Manager sees the same control scores, so the self-assessment and the controls view agree.

Operational risks are linked to the business services and continuity plans they threaten, so a risk to a process shows which services depend on it and which plan would be invoked. Business Impact Analysis (BIA) supplies the service view, and the Business Continuity Manager sees the same link from the resilience side. Remediation is coordinated with business teams through assigned tasks, due dates and closure validation in Issues Management, so a risk that needs a fix becomes tracked work.

SmartSuite produces business-unit risk reports and KRI trends for the risk function and local leadership from the register, RCSA results and loss events as they stand. The Operational Risk Manager can show the Enterprise Risk Director or Chief Risk Officer the unit's top risks, which KRIs have breached and what remediation is open, and give the Chief Operating Officer the same view for the business. The Risk Analyst maintains the data the report reads.

A business unit needs its current risk register, the list of controls that mitigate those risks with their owners and any loss event history it holds. New customers can start with SmartSuite Onboarding, a guided four-week program around one or two priority workflows; for a business unit the first workflow is the RCSA cycle, which sets the baseline. Loss events are logged as they occur and KRIs are added where the unit already measures them, with the enterprise link in place from the start.

The Basel Committee's principles describe the tools the Operational Risk Manager uses: risk and control self-assessments, loss event collection, key risk indicators and a three-lines structure, and those are the records SmartSuite holds. The loss event history matters because the Basel III standardized approach ties capital to it, which makes the database a regulated record; outside banking the same tools apply without the capital charge, from Solvency II to OMB Circular A-123 and DORA.