Operational and Regulatory Factors within New Life Training

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a) Operational and regulatory factors considered by the board

In order to focus on the board consideration, there are regulators that consider financial focus on the business to analyse distinctive and greater level of insight and awareness. Therefore, risk will be managed in a successful manner to ascertain and mitigate the significant results. In addition to this, operational management involves managing process that helps to consider raw material, labour, energy, etc. to produce goods and services. With this regard, different theories are considered such as business process redesign, reconfigurable manufacturing system, lean, six sigma, etc. In this context, Six Sigma is the main approach that helps to focus on the quality which assists to maintain effectiveness at workplace with defined sequence and financial targets as well. It assists to increase the profits and reduce costs to develop effective advantages (Mizgier and et.al., 2015). Lean accounting is also a systematic method that helps to eliminate waste material in the manufacturing process. It helps to seem resources to create value for customers. As results, elimination of the negative elements could be considered in a systematic manner.

Following are certain operational and regulatory factors exist that are considered by board in New Life Training:

• Cyber risk and data security: In respect to work for the new operations and functions in New Life Training, it is essential to look upon the cyber risk and data security. This is because; number of risks ranked with threat from cyber-attack as the top operational risk for last year. With the help of the proper management, they can reduce cyber-attack which is not growing but also insidious forms by the risk practitioners (Chwieroth, 2015). As the reputation damage, enough actions will be taken. Source of potential cyber threat pins down and making building of appropriate control which is serious challenges and attack in the world.
• Regulations: Furthermore, there are several regulations considered as the risk practitioner which denotes landmark regulations with capital adequacy frameworks, widespread market structure reform, etc. It represents that changes to accounting practices determine potential operational risks for New Life Training. In this regard, it is essential for business to expose themselves in the operational risk and increasing their return on equity. However, operational risk seems to one of the cause of regulators which determines more concern in which they struggle. It creates a huge impact on the operational risk capital and groups as well (Mousa, 2015). Hence, the chosen business needs to make sure that all employees are fully aware with roles and responsibilities. Ethical elements are also associated that create challenges that ensure proper business practices exit around all products and services rendered by enterprise.
• Outsourcing: Outsourcing consider three operational risks in New Life Training. For instance: spurred by clear message from regulators, third party risk management and face punitive sanctions. Hence, financial organisation must consider their reviews with existing outsourcing arrangement. It helps to ensure that failure of third party service providers will be reduced in a systematic way through focus on the systematic work performances. GDPR compliance represents a significant burden so that managers need to know exactly about the customer data that are held all times (Cambini and et.al., 2016). Hence, it is important to understand complex web of relationship with different outsource, practitioners, etc.
• Geopolitical risk: In the business outcomes, geopolitical risk also ascertained due to election of UK. The country withdrew from the European Union so that it combined to push the geopolitical risk into 10 years. Along with this, direct costs occur against the backdrop of significant economic, regulatory and business change. As results, it directly impacts indirectly as operational risk with outsourcing, organisational and business change, regulations, etc. in New Life Training (Cruz and et.al, 2016). Financial legislations also create own risks to maintain new supplier relationship that are heightened outsourcing the risk.
• Conduct risk: In the UK, security and exchange commission take successful enforcement that are entitled to provide reward up to 30%. Therefore, managers stated that it seeks to codify culture of personality development. Individuals also input their efforts to make systematic results in New Life Training. It assists the business to take successful enforcement (Leyman and Vanhoucke, 2016). In this regard, Securities and Exchange Commission imposed to the organisation with legislation which came into the force and it is levied with related fines.
• Organisational change: Organisational change comes in different forms. However, it consider by the regulation, technological changes and corporate restructuring as well. Results also consider upheaval which require changes to the top risk frameworks. It helps to cope up with new and idiosyncratic source of risk (Ng and Ber

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