RSK4801 SUMMARY 2022 - R53,44   Add to cart

Exam (elaborations)

RSK4801 SUMMARY 2022

RSK4801 SUMMARY 2022 Exam Guidelines • Definition of Operational Risk Management • General classification of risks • Identify the risks/events and determine the cause in a given scenario • Determine the impact and likelihood of identified events/risks • Risk assessment and control strategies • Operational risk profile • Risk indicators – identify and give examples • Operational Risk Management framework and ORM process • Operational risk management policy • Risk tolerance and risk appetite • Risk reports • Business Continuity Management (BCM) Concept and BCM Process • Scenario analysis • Biases • Corporate governance Definition of Operational Risk Management Operational risk is defined as loss resulting from inadequate or failed internal processes, people and systems or from external events. Basel Committee classification of operational risk loss categories: o internal fraud o external fraud o employment practices and workplace safety o clients, products and business practices o damage to physical assets o business disruption and systems failures o execution, delivery and process management Definition: Operational risk is the exposure of an organization to potential losses, resulting from shortcomings and/or failures in the execution of its operations. These losses may be caused by internal failures or shortcomings of people, processes and systems, as well as the inability of people, processes and systems to cope with the adverse effects of external factors.

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