What is the Operational Risk Management hierarchy in a bank or a financial institution, is discussed. We will see the reporting requirements and the role of Governance or Board of Directors, in the oversight of Operational Risks Management, as part of Enterprise Risk Management.
Operational Risk Assessment and Management are part of the overall Risk Management framework, of an organization. Operational Risks are identified, assessed, and managed in financial institutions, such as banks as part of the overall Risk Management.
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