The regulator definition of operational risk is the loss expected over the next 12 months deriving from losses resulting from inadequate or failed internal processes, people and systems or from external events (excluding reputational and strategic risk).
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Where market or credit risk can be thought of as a function of the bank's portfolio, operational risk can be thought of as a function of the bank's processes and governance. As such, it is difficult to compare the oper
The week on Risk.net, June 16–22, 2017Receive this by email