Building operational risk awareness

ORM for the masses

One of the major challenges in attempting to implement an operational risk management framework in banks in the Gulf Co-operation Council (GCC) and the Middle East is raising awareness and instilling an operational risk culture. Senior management realise the main factors in the success and prosperity of their business, and what helps them achieve their objectives, is having robust knowledge and awareness of operational risk. But the best way to achieve this is less clear.

Many banks in the