Operational Risk Framework, Governance, and Identification
Free GARP FRM Part II lesson in Operational Risk and Resilience. 21 min read, ~3,088 words.
Basel definition: operational risk is loss from inadequate or failed internal processes, people, systems, or external events. Excludes strategic and reputational risk; legal risk is included. Seven Basel II event categories: internal fraud, external fraud, employment practices, clients and products, damage to physical assets, business disruption, execution and delivery. Three...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
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