Part 1 Monitoring And Reporting

Question 1

What should reports feature ?

Answer 1

Clear consistent
Thorough
Precise
Key info

Question 2

What is a dashboard summary of data?

Answer 2

Visual summary of key data
Presented at a high level
Includes info on a number of kpis

Question 3

What does regulatory reporting entail?

Answer 3

The Basel Committee requires regular reports from both business units and internal audit
Extent to which risk management system is complying with the controls

Question 4

What is loss data analysis ?

Answer 4

Using historical loss data in measuring operational risk

Developing an operational loss database

Question 5

Tracking of internal loss data is an essential prerequisite to …

Answer 5

Development and functioning of a credible operational risk management system

Question 6

Loss data can be used to….

Answer 6

Validate the material collected through other means, perhaps by controlling risk self assessment and scenario analysis

Question 7

Reporting leads to…

Answer 7

Informed decision making

Reinforces viability of previous Stages