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What are the Attributes of Effective Key Risk Indicators?

Mash Risk Television

Advanta Bank Corp.
Eric Holmquist, VP, Dir of Op Risk Management

Runtime: 4:48

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Key Takeaways:

  1. KRIs are an indication that something “may” not be right and are useful only when interpreted.
  2. Attributes of Effective KRIs:
    • KRIs should be agreed upon
    • They must be measurable
    • Must be correlated to a tangible risk
    • Documented exceedingly well
    • Should give insight to the subtle
    • Clearly defined tolerance levels
    • Must have point of accountability
    • Integrated with op risk assessments
    • They should be focused
    • Must be dynamic

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