Make it personal
Operational risk managers need to do more than merely collating and analysing loss data, they need to add value by working towards the firm's business objectives. This can be achieved using stress testing and scenario analysis, which add a human element to the process.
Since its inception in 1974, the Basel Committee on Banking Supervision has been concerned with capital adequacy and the stability of the banking system. It is ironic that in the recent past, more banks have failed due to liquidity risk than through the loss of capital.
The Committee in the Basel II Accord defines operational risk as the risk of loss resulting from inadequate or failed internal
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