RSK2602
ASSIGNMENT 1 (SEMESTER 1)
DUE DATE: 20 March 2025
Written Assignment Submission Guidelines:
Please ensure that your assignment is submitted electronically through the myUnisa platform no
later than March 2025. Kindly note that fax or email submissions will not be accepted.
NB: Assignment submitted to the lecturer(s) through email will not be considered.
QUESTION 1
Statement 1: "Operational risk only arises from internal factors such as employees and processes,
and external factors do not contribute to operational risk."
ANSWER:
False. Operational risk arises from both internal and external factors. While internal factors such as
employees, processes, and systems contribute to operational risk, external factors also play a
significant role. External events such as natural disasters, regulatory changes, cyberattacks,
economic conditions, and third-party failures can lead to operational disruptions. For instance,
supply chain disruptions caused by geopolitical tensions or pandemics can severely impact an
organization’s operations, even though they are beyond its direct control. Therefore, operational
risk is a broad concept that includes both internal inefficiencies and external threats.
Statement 2: "The Basel Accord requires financial institutions to maintain a risk management
framework that includes identifying, assessing, monitoring, and controlling operational risks."
ANSWER:
ASSIGNMENT 1 (SEMESTER 1)
DUE DATE: 20 March 2025
Written Assignment Submission Guidelines:
Please ensure that your assignment is submitted electronically through the myUnisa platform no
later than March 2025. Kindly note that fax or email submissions will not be accepted.
NB: Assignment submitted to the lecturer(s) through email will not be considered.
QUESTION 1
Statement 1: "Operational risk only arises from internal factors such as employees and processes,
and external factors do not contribute to operational risk."
ANSWER:
False. Operational risk arises from both internal and external factors. While internal factors such as
employees, processes, and systems contribute to operational risk, external factors also play a
significant role. External events such as natural disasters, regulatory changes, cyberattacks,
economic conditions, and third-party failures can lead to operational disruptions. For instance,
supply chain disruptions caused by geopolitical tensions or pandemics can severely impact an
organization’s operations, even though they are beyond its direct control. Therefore, operational
risk is a broad concept that includes both internal inefficiencies and external threats.
Statement 2: "The Basel Accord requires financial institutions to maintain a risk management
framework that includes identifying, assessing, monitoring, and controlling operational risks."
ANSWER:
