It is the risk of loss resulting from ineffective or failed internal processes, people, systems, or external events that can disrupt the flow of business operations. The losses can be directly or indirectly financial. It can refer to both the risk in operating an organization and the processes management uses when implementing, training, and enforcing policies. Elite Coaching operational risk service can be viewed as part of a chain reaction: overlooked issues and control failures — whether small or large — lead to greater risk materialization, which may result in an organizational failure that can harm a company’s bottom line and reputation.
Examples of operational risk include: