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Where Should Operational Risk Focus Its Efforts?
Mash Risk Television
The Risk Management Association
Charles Taylor, Director, Operational Risk
Runtime: 4:04
The Risk Management Association (RMA) is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, and operational risk.
Key Takeaways:
- Operations should tackle high frequency, low impact events.
- OpRisk should tackle low frequency, high impact events.
- OpRisk must understand the anatomy of significant loss events in order to better manage exposures.
- OpRisk patterns can be spotted frequently, but are often overlooked.