8 Flashcards
1
Q
Define Operational Risk
A
Risk of loss resulting from inadequate or failed internal processes, people and systems or from external events
2
Q
5 sources of Operational Risk
A
Technology
Employees
Customer relationships
Capital assets
External
3
Q
Types of Operation Failures
A
People risk (fraud, incompetency)
Process risk (model, transaction, operational control risks)
Systems, technology and data risks
External events
4
Q
A
5
Q
A
5
Q
A
