Operational risk

Operational risks are defined as the risk of loss due to inadequacies in the internal control processes or systems and external and internal events that cause a breakdown in the operations.

In addition to the high level of awareness of the impact of the operational risks, policies (including the Risk Policy) at the unit level and corporate level specify  how the operations should be run. Although the work of  the Risk Management, Internal Control and Compliance functions is intended to manage risk, managing the operational risks requires a company-wide effort. The annually recurrent Risk Assessment process is an important step in mapping operational risks. In this context, maintaining a high level of professionalism and good ethics is important as well.

Information updated 2009-11-25 07:39:47