With the chaos and uncertainty brimming, organizations are facing risks at each step. From reduced employee productivity to third-party mismanagement to data theft, compliance risk along with technological risk factors, organizations are having a difficult time navigating through these challenges. Operational risk management is the need of the hour to help organizations to stay on track and increase their operational efficiency while staying compliant.

COSO framework (The Committee of Sponsoring Organizations) is an integral name in the world of risk management. With the explosion of cyber threats, and exponentially increasing uncertainty from multiple aspects, organizations were in dire need of an integrated risk management framework that could navigate them through the intricacies and uncertainties and that’s how COSO has come into existence.