Welcome To A New Beginning

Operational risk management is an essential aspect of good management. However, a large number of high-impact operational losses over a very short timeframe, some of which resulted in institutional failure, have made vital the need for stronger operational risk management practices, and intensified the interest of both financial institutions and the regulators. The financial services sector has seen major advancements in the field of risk management in the past decade, and operational risk management is now receiving greater prominence and recognition as a category in its own right alongside market and credit risk management. The control of operational risk is inextricably linked to good management, which involves high levels of vigilance and ongoing reviews and improvement. Operational risk management adds value, either directly or indirectly, to bottom-line performance and should therefore be a key consideration for any organization.