RSK2602 Assignment 1 |DETAILED ANSWERS| Semester 2 2025 – DUE 20 August 2025

, RSK2602 Assignment 1
Semester 2 2025
DUE 20 August 2025
Use this document as a guide and for references to answer your assignment

Question 1

Answer the following questions.NO MARK WILL BE AWARDED FOR A TRUE OR
FALSE ANSWER WITHOUT A MOTIVATION.

1.1 Operational failures caused by staff are driven by error, fraud and data theft.
True/False

True
Motivation: Staff-related operational failures typically arise from human error,
fraud, and malicious acts such as data theft. These are well-recognised internal
drivers of operational risk.



1.2 Technology and systems are examples of external drivers of operational risk
management. True/False

False
Motivation: Technology and systems are considered internal drivers of
operational risk, because they belong to and are controlled by the organisation.
External drivers would be things like regulatory changes, natural disasters, or
geopolitical events.



1.3 Operational risk is the risk of loss arising from human error, management
failure and fraud or shortcomings in systems or controls. This would include
strategic and reputational risk.