What Is Operational Risk Management, Kri And Kpi?

The performance management system helps the company in identifying the employees who are not able to perform as per the expectations. Warnings can be given to these employees for improving their performance. Even after that they are not able to improve their performance; these employees can be terminated on the basis of performance. The organization keeps documentation about the performance of an employee. The company documents the performance in HR 's file. Employees in Organization are motivated and they value the structure of the company, its development and plan for growth. A motivated employee performs using full potential, which is good for both the organization and employee.

* To help the employees in identifying the knowledge and skills required for performing the job efficiently as this would drive their focus towards performing the right task in the right way, which in turn helps work towards the business objectives as their

Enterprise Risk Management (ERM) is a series of processes used to identify risk, implement strategies to address risk, and monitor impact on the organization. Indeed, an effective ERM will consist of a corporate profile, which is a record of key risks that would hinder the organization in achieving their key objectives (Fraser & Simkins, 2010). Ideally, the risk profile is created as a tool to communicate with the Board of Directors, but may be used as a means of communication with all levels of management (Bethel, 2016). Typically, there are variations of the risk profile based upon the level of management, such as duration, types of risk, and purpose (Fraser & Simkins, 2010).

Developed and monitored success via call center metrics (KPI 's). Responsible for operation goals, developing, analyzing, and reporting call center metrics.

Within business, there will always be operational risks to consider. "Operating risk is the basic

Setting targets in line with experience – KPI’s are set to measure our performance, this is a gauge as to what you are good at. A report of KPI’s (broken down) can show what your strengths and weaknesses are – it will show if you are not meeting the same target on a monthly basis and in turn will lead to identifying the skill in question and additional training in this one particular skill can be set.

Strategic / Executive Dashboards Strategic dashboards will typically provide the KPIs (Key Performance Indicators) that a companies executive team track on a periodic (daily, weekly or monthly basis). A strategic dashboard should provide the executive team with a high-level overview of the state of the business together with the opportunities the business faces.

The KPIs must relate directly to the organization's stated goals. These are the metrics against which the organization will be driven to perform in order to measure its success over time. For example, if your organization's primary goals are to have the field engineer arrive at the customer site as quickly as possible, complete the repair within the contracted time, and leave the customer completely satisfied, then you will probably be looking at KPIs reflecting Average Time to Respond (AVR), Mean Time to Repair (MTTR), and various other customer satisfaction metrics and indices.

Risk refers to a likelihood, probability, a chance that a loss may occur in a given organization. Most of the times, there is a high risk when there is vulnerability. In this case, vulnerability refers to a weakness that the organization has. Risk assessment refers to the process of identification of potential hazards and proper analysis of the expected losses if those hazards occur (Homeland Security, n.d.). Risk assessment as a way of profiling risk according to impact to the organization. Some organizations have business impact analysis exercises geared towards determination of potential hazards based risk assessment approaches. Organizations’ risk differ depending on the size and the type of business they are doing. The disparity in organizations’ risk call for different adaptation of risk assessment approaches. Even with the disparities of the businesses, proper risk management not only ranks the risks according to the seriousness but also identifies the best methods to control risks in an organization.

Key Performance Indicators (KPI) also known as Key Success Indicator (KSI) is the main metric used to identify if a website goal is being achieved or not. The goals and the key performance indicators work hand in hand, because if there are no precise businesses goals, companies cannot identify what their KPIs are; irrespective of the richness of a metric.

It provides feedback from which those involved can learn and make the necessary changes to enhance the operating

A performance management system should consist of planning, monitoring, reviewing and evaluating (Hrcouncil.ca, 2015). During the planning phase management should identify, clarify and agree upon expectations of the employee. Also, in this phase management needs to determine how results will be measured, agree on the monitoring process and document the plan for performance management. Furthermore, this step is imperative for management to identify and ensure the performance objectives are explicitly stated to the employee. In the development of this phase management would

KPIs can be broken down by acronym; by focusing on the importance of each component of a Key Performance Indicator it will become apparent of the role the KPI plays in the operational plan.

KPI can make everything easy to recognize and survey. The employer is able to know performance for each employee and rewards them fairly and equally with different rates such as increment and bonus. From visibility on expression and strategic target, the employee can know their limitation and weakness. The employee should put more effort to achieve their particular goal which set by the employer.

* Operational Risk: It includes all the major and minor processes taking place in the company. It included: trained Human Resources, strong IT Infrastructure, management and repair of equipments. The risk involved has low