Different financial services suffer high operational risks when there is market failure and industry transformation. In order to reduce the cost of risk management operations, financial organizations are seeking new models and methodologies. FMEA (Failure Mode and Effect Analysis) and Control charts are two very powerful Six Sigma tools which not only help to identify and prioritize risks but also monitor the risks. To know how FMEA and Control charts help in risk management, please go through the following article written by Abhishek Soni, a certified Six Sigma Black Belt and Project Management Professional.

http://www.isixsigma.com/industries/financial-services/leverage-six-sigma-to-manage-operational-risk-in-financial-services/