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The complete course: Managing operational risks – theory and practice in one package.
Quickly build your operational risk skills with this master-level course. Unique benefit – 6 months free access to a modern risk tool
The definitions of operational risk vary from institution to institution – the emergence of a uniform definition is a relatively new phenomenon and was driven primarily by the Basel II mandate.
Operational risk and recommendations of the Basel Committee
To collect and organize the data, the Basel Committee on Banking Supervision recommends estimating operating losses by different banking business lines and risk types (i.e. risk events), namely:
Find out more here:
https://globalriskacademy.com/p/orm
Eight business areas
1. Private customer business
2. Commercial banks
3. Trading and selling
4. Retail brokerage
5. Corporate financing
6. Agency services
7. Payment and settlement
8. Asset management
Seven types of risks
1. Execution, delivery and process management
2. External fraud
3. Customers, products and business practices
4. Internal fraud
5. Damage to property
6. Employment practices and workplace safety
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