Orm Flashcards
1
Q
What does ORM stand for
A
Operational risk management
2
Q
What are the 4 principles of ORM
A
-Accept no unnecessary risk.
-Accept risks only when benefits outweigh cost.
-Make risk decisions at the right level. -Anticipate and manage risk by planning.
3
Q
What are the 5 steps of ORM
A
-Identify risk
-asses risk
-mitigate
-implement
-supervise
