Operational Risk: Management

Operational Risk: Management

Intuition Publishing Pty Ltd
Updated Aug 26, 2020

Operational risk management requires significant participation by the bank's senior management and board and is enhanced by a risk-aware culture. A number of controls, systems, and processes can be employed to ensure that OpRisk is adequately managed. Here we look at the the organizational requirements needed to manage OpRisk effectively, including the need for an independent operational risk evaluation by the
bank's internal audit function.