From operations to human resources, from IT systems to financial transactions, almost everything a company does exposes it to some type of risks.

Managing those exposures is challenging, and the challenges are compounded by the fact that for most businesses the risk landscape is constantly changing. That's why it's important for risk managers to be innovative and creative, to think outside the box.

The winners of the 19th annual Alexander Hamilton Awards in the category Operational Risk Management—sponsored by Deloitte, FiREapps, and Kyriba—exemplify the benefits of developing creative solutions to risk management challenges.

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Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.