Operational Risk Management template
Identify, assess, and control risks arising from internal processes, people, systems, and external events.
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An operational risk management policy describes how an organisation identifies, assesses, and controls the risks arising from its people, processes, systems, and external events. It sets out the framework for monitoring and reducing exposure. A structured approach supports resilience and informed decision-making.
Who needs one: Organisations seeking to manage day-to-day business risks in a structured way, including regulated firms.
What a strong operational risk management covers
- Operational risk appetite and tolerance statements
- Risk identification, assessment, and scoring methods
- Risk and control self-assessment processes
- Key risk indicators and ongoing monitoring
- Risk treatment, mitigation, and acceptance decisions
- Reporting, escalation, and governance oversight
Regulations and frameworks this aligns to
PolicyKit references the standards relevant to your jurisdiction when it generates your operational risk management.
- ISO 31000
- The international standard providing principles and guidelines for risk management that can be applied across any organisation or activity.
- NIST Cybersecurity Framework
- A voluntary US framework organising cybersecurity activities into core functions to help organisations manage and reduce cyber risk.
- FCA Operational Resilience
- FCA requirements for regulated firms to identify important business services, set impact tolerances, and remain within them during disruption.
- DORA
- The EU Digital Operational Resilience Act, setting requirements for ICT risk management and operational resilience across the financial sector.
Frequently asked questions
What should a operational risk management include?
A robust operational risk management sets out scope, roles and responsibilities, the specific controls or procedures involved, and how compliance is monitored and reviewed, mapped to frameworks like iso-31000, nist-csf, fca-ops-resilience. PolicyKit structures all of this automatically based on your business.
Is this legal advice?
No. PolicyKit generates AI-assisted professional templates and starting points, not legal advice. Every document should be reviewed with qualified legal and compliance counsel before use.
Can I tailor it to my country?
Yes — PolicyKit tailors each document to your jurisdiction, including UK, EU, United States, Australia, Singapore, Hong Kong and more.
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