The ABC of ORMs
Creating an effective operational risk management (ORM) framework is essential for the institution looking to stay afloat in today’s volatile op risk environment. Gene Álvarez provides an in-depth analysis of how such a framework can be put in place
One of the greatest challenges in today’s business environment is the establishment of an enterprise-wide risk management framework that encompasses the many facets of operational risk. Unlike credit and market risk management, where risks are generally confined to specific business functions, operational risk is endemic across the institution, affecting every business activity. To manage the broad spectrum of operational risks, a firm must create an enterprise-wide operational risk
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