05 January 2010

Deja Vu: Operational Risk in Decade Past...

The WWW is dynamic and the operational risks you take while navigating it's vast depth and breadth is part of the process. Who or what should you trust? As an example, at this very moment when you search Google for Operational Risk Management it returns this blog as the number #1 top link. Perhaps that is how you arrived here at this blog on Operational Risk.

You trusted Google that when you clicked on the link that you would find relevant information on your desired topic. Or perhaps you navigated to this site devoted to Operational Risk Management because one of the almost 1,000 postings since 2003 covered your question, topic or issue. In both cases, the information returned may have relevancy but only after careful examination of the words, concepts, ideas and arguments do you make the decision on whether to "Bookmark" this site.

And for the many that have bookmarked us or added us as your RSS Feed then we know who you are. Our mutual quest for the relevancy of "Operational Risk Management" in the current world we live in will continue. With each new incident, accident, or breach our purpose is further defined and more extensively documented.

As we encounter 2010 and the next decade we promise to provide the content you require and the relevancy to your role in the profession. Let's go back in time for a minute and see if any of our previous posts over the past 7 years have a point today:

28 October 2003

More banks hit by email fraud

U.S. Issues Saudi Alert Saying Terrorists Targeting Airlines

24 February 2004

Greenspan: Curb Fannie, Freddie Growth

24 June 2005

Negative Stock Price Reaction to Announcements of Operational Loss Events...

31 December 2006

Remember His Name: The Long War Ahead...

24 May 2007

Hedge Funds: Crystal Ball on Regulation...

11 October 2007

Fear: The Elements of Prediction...

31 March 2008

Volatility: Enemy #1...

08 May 2008

Legal Ecosystem: Survival of the Fittest...

22 September 2008

Decision Advantage: OPS Risk Intel...

25 April 2009

Human Factors: Early-Warning System...

17 August 2009

Business Resilience: Beyond Readiness...

Are you having a deja vu moment? A flashback to the future. Why is it that "lessons learned" are continuously ignored? Forgotten. Lost. History and the knowledge of that history can save you. Some use log analysis of their precious computing resources, firewalls and IDS/IPS systems to learn from the past. Others don't remember that last time they fell down the stairs, slipped on the ice or banged their head. Even those individuals who have been on the other side of the desk when the "Boss" is making their position "Extremely Clear" about their performance measures are subject to having a deja vu moment.

Operational Risk is a daily and continuous 24x7x365 process. A way of life. Not an event or a meeting at the end of the quarter. Each person and stakeholder at your organization or institution is responsible for it and should live each day embracing it. We like to say, Operational Risk Management saves lives, protects corporate assets and enables global enterprise business resilience. That's something everyone can remember, practice and strive for every waking moment and in every situation.

What do you think?

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