Switzerland

Details

  • Service: Advisory, Risk Consulting, Financial Risk Management, Financial Services
  • Industry: Insurance
  • Date: 8/8/2012

Operational Risk - Dealing with the Inevitable 

Operational risk (OpRisk) ranges among the main risk categories in the banking and insurance industry. However, its nature still remains a bit of a myth: We often have a vague sense of its existence but we spot it only once it has materialized.
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With so much obscurity, a concise definition is merely a first step. Conventionally, OpRisk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events.
 

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