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Risk Control Self Assessment

A risk control self-assessment (RCSA) requires the documentation of risks and provides a rating system and control identification process

What is Risk Control Self Assessment?

The control environment plays an important role in mitigating operational losses. The Operational Risk manager should map each business unit’s processes, risks, and control mechanisms associated with the processes. A risk control self-assessment (RCSA) requires the documentation of risks and provides a rating system and control identification process that is used as a foundation in the OpRisk framework.

Why are risk control self-assessment important?

Control self-assessment establishes a clear line of accountability for controls, lowers the risk of fraud (by evaluating data that may reveal anomalous transaction patterns), and results in a lower risk profile for the organisation.

Owais Siddiqui
1 min read
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