Operational Risk Framework, Governance, and Identification
Free GARP FRM Part II lesson in Operational Risk and Resilience. 20 min read, ~3,037 words.
Basel definition: operational risk is the risk of loss from inadequate or failed internal processes, people, systems, or external events. Excludes strategic and reputational risk; includes legal risk. Seven Basel II event categories: internal fraud, external fraud, employment practices, clients and products, damage to physical assets, business disruption, execution and...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
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