GETTING IT RIGHT AT THE OUTSET
Good governance is the starting point for good operational risk management (ORM). Given that risk management (RM) is vitally important to all firms, good operational risk (OR) governance should be one of the board’s primary aims and responsibilities. It is essential for the effective embedding of operational risk management into a firm’s everyday activity. It is not a rigid set of rules, nor is it a box-ticking exercise, but the basis of good business conduct.
Risk management has also become a focus of investor as well as ...