It is the year 2022. Global Reach Financial Group is a fictional financial services company with global investment bank, commercial banking, and insurance operations. Pamela was appointed CRO two years ago, after spending five years as a trader and three years as a market risk manager.
Pamela, the Chief Risk Officer of Global Reach Financial Group, is enjoying breakfast at home when her cellular watch suddenly begins beeping furiously. She checks the digital display and notes the warning “Operational Risk Alert.” She thinks to herself that, despite the many advances in risk management, an operational risk debacle is still every risk officer’s worst nightmare. Using her laptop, she logs on to the global risk management system to find out what is happening. Before she can so much as check the interactive risk monitoring program, Garrett, Chief of Staff, appears on the screen using the PC videoconferencing application. “We’ve identified a rogue trader,” Garrett says. “While we were examining the traders’ records to prepare for their annual compensation review, we identified a discrepancy in Rick Gleeson’s accounts. Further investigation of the transactions in question revealed that they were fake transactions designed to conceal about $200 million in trading losses in emerging markets bonds over the past nine months.”
“We need to move quickly on this to avoid additional losses and bad press,” Pamela replies, “Let’s initiate a videoconference with the CEO, the heads of the audit committee, the trading unit, corporate communications, the legal department, and human resources. We need to clarify the details of what happened, why it happened, and what should we do to handle the situation.”
“I’ll get right on it,” says Garrett.
The next day, Brandon, the CEO of Global Reach Financial Group Corp., has called Austin, the head of trading, into his office. “Your trading operations have generated nearly half of the corporation’s profits over the past three years, but this is a very serious problem. Our investigation has turned up evidence that Rick has indeed been involved in unauthorized trading and we have a zero-tolerance policy for unethical behavior. Austin, how did this happen under your watch and what should we do about Rick?” Brandon asks.

In spite of having Operational Risk Controls in place why do you think that this situation has occurred?
Everlast deals with regulators and news of this loss will be released to the public. What key risks will the company be facing?
How should they deal with each of the risk exposures?
What is their key financial risk?
What course of action should be taken with Rick? Why?
Identify if anyone(s) else be accountable? What course of action should be taken with them (single or plural if more than one)
Any other key points not addressed above?

Sample Solution

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As part of assignment we need to Develop a Service Level Agreement (SLA) for a service.
I have choose the topic as ” University website maintenance ” with some vendor.for SLA document format attached FitSm_Template format .I have also attached some example SLA document and other document for your reference.
Instructions:
1) Make sure that your SLA includes at least the Standard Service Features, Optional Service Features, Delivery Scope and Channels, Service Hours / Location, User Requirements, Service Initiation, Service Support, Standard and Optional Costs, and Service Targets (think of capacity planning).
2) Describe in detail the Description of your Service, Service Standards (availability, capacity, continuity, Maintainability, scalability, Reliability and security), Duration of the SLA, Roles and Responsibilities, and Evaluation Criteria (Service Objectives).
3) Make sure the SLA document covered below points

Uptime, how many times to break, how much time to fix those breaks
Reporting on services tickets solved .( ex: by week ,2 weeks ,month)
Resolve disputes (In case any)
Assumptions ( new one comes and go . do you except99%reliability all 3 years ,)
customer responsibilities — how this product used and maintained, time take to inform in case of failure ,appropriate usage of product
underpinning agreementâ€s – are you doing everything your own and other 3rd party providerâ€s
escalation
increasing and decreasing services — how will we do it

 
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