Objectives:
A large insurer needed to implement a comprehensive operational risk management framework. Key issues included fragmented risk reporting, gaps in business resiliency planning, inefficient risk assessment processes, and the need for stronger governance over newly acquired businesses. The organization required an enhanced risk framework to mitigate operational risks, optimize governance, and ensure compliance with regulatory requirements.

Role We Played:
We led the transformation of the insurer’s risk management framework and implementation via a structured approach to operational risk governance, control self-assessment, risk appetite definition, and key risk indicators (KRIs). Our team developed and executed risk oversight programs over newly acquired entities, streamlined risk reporting, and enhanced resiliency measures to protect the organization from emerging threats. Additionally, we provided strategic guidance on integrating subsidiaries, managing divestment transactions, and strengthening fraud prevention mechanisms.

Leads: Panagiotis Tsaousis; Ivan Pooran Pabon