ORSA: Operational Risk Self Assessment

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ORSA: Operational Risk Self Assessment

The operational risk assessment activity is one of the most onerous tasks of the Risk Manager from the point of view of time, cost-effectiveness and complexity. It requires in-depth knowledge of the institution’s operations, the level of risk culture widespread in the business context, as well as a series of preliminary assessments that allow the perimeter to be investigated to be framed.

In order to facilitate the conduct of these activities, RS provides a real “methodological framework” that facilitates users in carrying out “Operational Risk Self Assessment” (hereinafter: ORSA).


With ORSA the Risk Manager can take advantage of a tool characterized by great ease of use, high configurability, innate predisposition to the documentation of operational risk assessment sessions.


The evaluation of the levels of inherent and residual risk is based on a parameterizable calculation model, able to involve through a workflow all the responsible users called upon to define the levels of impact, frequency and adequacy of controls both at Base Case Scenario and Worst Case Scenario level.

Thanks to the possibility of integration with other modules of the GRC platform, ORSA can offer an advanced analysis dashboard that allows to calculate on the risks subject to assessment simulations with LDC lever and KRI lever.

At the end of the evaluations, the system provides structured reporting of the session outcomes, offering synthesis frameworks that can be “navigated” according to a drill-down logic.

An ORSA can also be conducted in the form of a “what if?” simulation by means of a special dashboard that allows to visualise the deviation of risk levels identified in a previous ” effective” session compared to spannometric variations of impacts and frequencies.