Assessing a firm's op risk profile
Setting up an operational risk management framework is the first step in understanding a firm's risk profile. By Gene Álvarez
When a firm implements an enterprise-wide operational risk management (ORM) framework, obtaining meaningful results from the copious op risk data set is a daunting task. If the data is not turned into actionable decisions, the firm's management will not regard the ORM framework as a mechanism to manage op risk. Without a clear incentive, the defined ORM processes will not be sustained, exposing
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