...Basel II, risk management includes "operational risk," which is defined as the "risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk," 9 but excludes strategic and reputational risk." 120 Basel II...

...able to assess their risks. Basel II defines risk as 'The risk of direct or indirect loss resulting from inadequate or failed internal processes, people and systems, or from external events.' Companies that are concerned with the following need to take Basel II into account: credit risk, derivatives,...

...operational risk corresponds to the definition from the Basel Committee: "... the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events."9 The separation of the various debt management functions (front-, middle- and back-office)...

...management of fraud and corruption risks. Operational risk is defined as 'the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events' (Basle Committee on Banking Supervision, 2003). Operational risk management is the process of identifying...

...operational risk (inclusive of technological risk) as "the risk of direct or indirect loss resulting from inadequate or failed internal processes, people, and systems or from external events." A number of FIs add reputational risk and strategic risk (eg, due to a failed merger) as part of a...

...Operational risk: the potential, common to all businesses, for financial and reputational losses resulting from inadequate or failed internal processes, people and systems or from external events. • Liquidity risk: the potential for losses to arise from a failure to meet funding requirements,...

...unexpected fluctuations in economic growth. Operational risk—the risk of indirect loss resulting from inadequate or failed internal processes, people, and systems, or from external events. One example of a non-financial, operational risk is the effect that Hurricane Katrina had on the shrimp...

...risk profiles of firms. The regulators have defined operational risk as "the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events." These failures include computer breakdowns, a bug in a key piece of computer software, errors of judgment,...

...given by the Basel Committee, which defines the term as "the risk of direct or indirect loss resulting from inadequate or failed internal processes, people and systems or from external events". Operational risks arise as a result of the breakdown of internal control systems, corporate governance,...

...document on operational risk [11], the BCBS defined operational risk as "the risk of losses resulting from inadequate or failed internal processes, people and systems or from external events." It includes strategic, reputational risk and systemic risks. In its monograph dealing with capital...