Scaling op risk management for SMIs: the op risk lifecycle

In the second of a series, Eric Holmquist takes a detailed look at the four-part lifecycle of a successful operational risk programme and the components that should make up each of the four stages. Plus a rundown of several central tenets that underpin the theory of operational risk management

When I was a child my grandmother lived in a well-furnished cabin in the mountains of southern California which we would visit while on holiday, often for weeks at a time. It was a wonderful, magical place made even more special by my grandmother herself. Agnes MacNitt was an amazing woman, who seemed to fear nothing and who truly believed that anything was possible with a little determination