No one will ever forget the catastrophes experienced by Enron in the United States, Bhopal in India, Perrier worldwide, Parmalat in Italy or AZF in Toulouse. Each of these cases had a significant macroeconomic impact on stock prices, oil prices, high-risk insurers, consumer confidence and all of the major international balances. Companies try to manage these types of catastrophes by implementing their own “Disaster Recovery Plan”, while countries create legislature to minimize the impact of the macroeconomic and political risks created by these disasters. With this in mind, Gartner cited more than eighty European laws related to risk management, such as Basel II, Solvency II as well as Financial Security Laws such as Sarbanes-Oxley (SOX). But just identifying the risks is not enough. “To manage operational risks, we must manage the processes,” explained François Tabourot, Managing Director of MEGA.

This is the approach used by Crédit Lyonnais. “We agreed to work on our processes, and for more than a year now, the bank has been organized by type of process,” explained Michel Raquin, a process organization manager appointed by the LCL General Management. “All production of products and services is based on a process”. It can be described as a chain of activities that works to provide «end-to-end» customer service, from the moment the customer’s need is stated until that need is met. This chain of activities extends through multiple business lines and business units of the company (branches, decision-making centers, middle office, back office, etc.).


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