Operational Risk and Resilience

Building a supporting operational risk management

architecture

Risk management architectures are relatively easy to design,

but are often not easy to implement. They depend on a number

of prerequisites to succeed. This section considers factors that

form the foundation for an effective operational risk manage-

ment framework:

•

Senior management commitment: The commitment of

senior management to the process is fundamental to its

success. Management must have an ongoing role through-

out the process, commit resources and funds, and send out

a consistent message to the whole organization that they are

fully supportive of the risk management framework.

•

A common ...