Journal of Operational Risk
ISSN:
1744-6740 (print)
1755-2710 (online)
Editor-in-chief: Marcelo Cruz

Adequate communication about operational risk in the business line
Udo Milkau
Abstract
ABSTRACT
While there is an established framework for quantitative modeling of operational risk as a "lingua franca" on an expert level, active operational risk management in the business line as "first line of defense" requires adequate communication with and between nonexperts, ie, nonstatisticians. Decision makers (management) and process experts (staff) have to be able to implement the concepts of statistics and risk in their daily business, and the risk of misunderstanding those concepts in the business line has to be avoided. In this paper, a pragmatic alternative with a simplified approach to adequate communication of operational risk with and within the business line is suggested.
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Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
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