INMA S1.2.1 Operational risk
(1) Operational risk is the risk of loss resulting from:
(a) inadequate or failed internal processes, people and systems; or
(b) external events.
(2) The management of operational risk typically addresses legal risk, fraud risk, economic and political risk, business continuity risk, technology risk, human resources risk, outsourcing risk, project management risk and strategic risk.
|Derived from QFCRA RM/2014-4 (as from 1st January 2015).|