Operational Risk Assessment Implementation for Crypto Bank

This document is a case study detailing the operational risk assessment and control implementation for a US-based crypto bank. The client faced significant challenges due to reliance on manual, spreadsheet-driven operations, which resulted in high operational risks and costly errors, including multi-million-dollar losses from data entry mistakes. An operational risk assessment was conducted to identify critical vulnerabilities within the bank's operational processes. The assessment involved reviewing processes, tools, and testing to classify risks based on value, impact, and business criticality. Targeted controls were defined and implemented, such as automation and template redesign, to mitigate identified risks. The results included the establishment of a risk matrix with a risk profile and heat map, defining the impact and probability of risks, and implementing quick-win solutions to reduce operational risk. The case study outlines the successful mapping of the organization's operational risk profile and the automation of high-risk processes.