Worksheet Operational Risk Assesment

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Worksheet Operational Risk Assesment

Worksheet Operational Risk Assesment

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Worksheet: Operational Risk Assessment

**Assessment Date:** {{assessment_date}}

**Assessor(s) Name(s):** {{assessor_names}}

**Department/Process Under Assessment:** {{department_process}}

**Version No.:** {{version_no}}

1. Risk Identification

**Instruction:** Identify potential operational risks relevant to the department/process. Consider categories such as people, processes, systems, and external events. Describe each risk clearly.

**Risk ID:** {{risk_id_1}}

**Identified Risk:** {{identified_risk_description_1}}

**Risk Category:** {{risk_category_1}}

**Potential Impact Area(s):** {{impact_areas_1}}

**Risk ID:** {{risk_id_2}}

**Identified Risk:** {{identified_risk_description_2}}

**Risk Category:** {{risk_category_2}}

**Potential Impact Area(s):** {{impact_areas_2}}

2. Risk Analysis and Evaluation

**Instruction:** For each identified risk, assess the likelihood of occurrence and the potential severity of impact. Use the rating scales provided (e.g., Likelihood: 1-5, Severity: 1-5). Calculate the risk score (Likelihood x Severity).

**Risk ID:** {{risk_id_1}}

**Likelihood (1-5):** {{likelihood_1}}

**Severity (1-5):** {{severity_1}}

**Risk Score:** {{risk_score_1}}

**Existing Controls:** {{existing_controls_1}}

**Effectiveness of Existing Controls (High/Medium/Low):** {{effectiveness_1}}

**Risk ID:** {{risk_id_2}}

**Likelihood (1-5):** {{likelihood_2}}

**Severity (1-5):** {{severity_2}}

**Risk Score:** {{risk_score_2}}

**Existing Controls:** {{existing_controls_2}}

**Effectiveness of Existing Controls (High/Medium/Low):** {{effectiveness_2}}

3. Risk Treatment and Mitigation

**Instruction:** Based on the risk evaluation, define specific actions to treat or mitigate each risk. For significant risks, prioritize actions and assign responsibilities and deadlines.

**Risk ID:** {{risk_id_1}}

**Proposed Mitigation Strategy:** {{mitigation_strategy_1}}

**Responsible Person/Department:** {{responsible_person_1}}

**Target Completion Date:** {{target_completion_date_1}}

**Resources Required:** {{resources_required_1}}

**Risk ID:** {{risk_id_2}}

**Proposed Mitigation Strategy:** {{mitigation_strategy_2}}

**Responsible Person/Department:** {{responsible_person_2}}

**Target Completion Date:** {{target_completion_date_2}}

**Resources Required:** {{resources_required_2}}

4. Monitoring and Review

**Instruction:** Outline how the identified risks and mitigation strategies will be monitored and reviewed regularly to ensure their effectiveness and to adapt to changing circumstances.

**Review Frequency:** {{review_frequency}}

**Reviewer(s):** {{reviewer_names}}

**Date of Next Review:** {{next_review_date}}

**Monitoring Metrics/Indicators:** {{monitoring_metrics}}

5. Escalation Procedure

**Instruction:** Describe the process for escalating significant or unmanaged operational risks to higher management or relevant stakeholders.

**Escalation Threshold:** {{escalation_threshold}}

**Escalation Contact(s):** {{escalation_contacts}}

**Escalation Path:** {{escalation_path}}

Approval and Sign-off

_____________________________

**Assessor Name:** {{assessor_name_sign}}

**Date:** {{date_sign}}

_____________________________

**Approver Name (e.g., Head of Department/CEO):** {{approver_name_sign}}

**Date:** {{date_approval}}

**Signature:**