Creating an op risk loss-collection framework

If an organisation is to avoid not only large-scale but also small operational risk losses, a high degree of transparency of the organisation, its processes and their inadequacies and/or potential for failure is needed.

Operational risk losses have always been recorded, approved and reported in one form or another. In some cases, actions have been implemented with the aim of preventing similar occurrences. Until recently, however, operational risk losses had never been analysed in a

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