Operational Risk Mitigation
Operational Risk Mitigation involves strategies and practices aimed at identifying, assessing, and reducing the potential for losses or disruptions resulting from inadequate or failed internal processes, systems, people, or external events. This includes implementing controls, procedures, and safeguards to minimize the impact of operational risks on an organization's operations, reputation, and financial performance. Operational risk mitigation efforts often focus on improving operational efficiency, ensuring compliance with regulations, and enhancing resilience to unforeseen events.