Why Operational Risk Management is associated as a helping tool for Internal Control?

Operational Risk Management is indeed a helping tool for Internal Control for various reasons, the major ones are listed below:-

• Identification of Key Risk Indicators which are the early warning indicators for any process failures or control issues.
• Continual Cyclic Process to identify risks, assess those risks in terms of its merit & importance, preparation of risk mitigation action plans & Implement them to ensure stringent Internal controls are in place
• Ensure there is strong link between the goals of the Organization & the decisions made by its management