Operational Risk Financial Services
Operational Risk in Financial Services refers to the potential for loss resulting from inadequate or failed internal processes, people, systems, or external events. This type of risk encompasses a wide range of issues, including fraud, errors, system failures, and legal compliance failures. It is crucial for financial institutions to effectively manage operational risk in order to protect their assets, reputation, and overall financial stability. Operational risk management involves identifying, assessing, monitoring, and mitigating risks to ensure the smooth functioning of business operations and compliance with regulatory requirements.
External Links
- [orx.org] Operational Risk Management in Financial Services | ORX