Operational Risk Management

Definition: Operational Risk Management is a continual process that includes risk assessment, risk decision making, and implementation of risk controls, which results in acceptance, mitigation, or avoidance of risk.
ORM provides an oversight of operational risk, including the risk of loss resulting from inadequate or failed internal processes and systems; human factors; or external events.

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More on risk management: Behavioral Risk Management, Credit Risk Management, Risk Appetite, Risk Management.

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