Even minor human errors in interpreting regulations or internal accounting standards forming part of operational risk (OR) ...

Of the main areas of risk management, operational risk has the shortest history, with the industry beginning to give it serious consideration only 25 years ago. In that time, the industry has made ...

"Fourth parties" are the parties that a service provider engaged by an APRA-regulated entity relies on in delivering its services (essentially, a subcontractor). CPS230 acknowledges that an ...

Welcome to the third issue of Volume 18 of The Journal of Operational Risk. I have just returned from attending an array of risk management conferences around the world. It is always a pleasure to ...

Schmidt, William, and Ananth Raman. "Operational Disruptions, Firm Risk, and Control Systems." Manufacturing & Service Operations Management 24, no. 1 (January ...

Citi’s latest blunder isn’t just a glitch—it’s a flashing warning sign that operational risk is still a ticking time bomb in banking,” Anna Kooi, national financial services and ...

It took three employees and several hours for Citigroup to realize it credited a customer account with $81 trillion instead of $280.

Still, it took several hours to reverse the transaction, according to the FT, unveiling operational weaknesses ... scrutiny for years over its risk management and operations practices.

to comply with enhanced operational risk management requirements. At Bloomberg, we understand that remaining competitive in a fast-changing environment requires financial entities to constantly ...

In an increasingly uncertain and volatile global landscape, businesses, governments, and investors face a growing array of challenges that demand ...