Operational Risk Appetite: What is the primary difference between an operational audit and a compliance audit?

Other relatively important risks are liquidity risk, interest rate risk and operational risk, people, process, system or external events are the direct causes of operational risks. As a result, business clusters take responsibility for all operational and risk-related matters on your organization level within the limits set by the risk Read more…

Operational Risk Appetite: Are the risk tolerance limits for financial, operational, and compliance risks clearly articulated in your organization?

The board of directors should approve appropriate thresholds or limits for specific operational risks, and an overall operational risk appetite and tolerance, specific risk instructions for the main business units are prepared on the basis of the overall risk policies and limits, also, your risk appetite is defined at the Read more…

Operational Risk Appetite: What is the primary difference between an operational audit and a compliance audit?

Other relatively important risks are liquidity risk, interest rate risk and operational risk, people, process, system or external events are the direct causes of operational risks. As a result, business clusters take responsibility for all operational and risk-related matters on your organization level within the limits set by the risk Read more…

Operational Risk Appetite: Are the risk tolerance limits for financial, operational, and compliance risks clearly articulated in your organization?

The board of directors should approve appropriate thresholds or limits for specific operational risks, and an overall operational risk appetite and tolerance, specific risk instructions for the main business units are prepared on the basis of the overall risk policies and limits, also, your risk appetite is defined at the Read more…

Operational Risk Appetite: Does purchasing own the supplier risk profiling or is it the operational managers?

Operational risk is the risk of a change in value caused by the fact that actual losses, incurred for inadequate or failed internal processes, people and systems, or from external events (including legal risk), differ from the expected losses, at operational level, risk appetite establishes operational parameters for routine activities, Read more…