Axtria White Paper

White Paper

WHITEPAPER

Operational Risk Management In Banks

In recent years, more than 100 losses exceeding US$ 100 million have been reported, prompting the regulators to turn their focus towards effectiveness of Operational Risk Management practices at banks.

In this paper, we discuss the fundamental principles of operational risk, and the current challenges faced by banks, esp. the deficiencies in data architecture, reporting and KRI frameworks.

We propose setting up two lines of defense against operational risk, developing a sound enterprise level KRI framework, and building the technological layer to support implementation efficiently.

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