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The Operational Risk Handbook for Financial Companies: A guide to the new world of performance-oriented operational risk by Brian Barnier

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2.1. Responding to Risk: Managing Options, Finding Balance, Creating Levers

Figure 17

“I view managing operational risk in much the same light that I view quality control. If it is an after-the-fact, defensive component of the process, then it is less effective than if it is an important component of how the organization does business and is built into the process at the front end. In other words, operational risk management should be a part of how an organization defines its operating philosophy.”

— Mark Olson

In risk evaluation, watch for warnings illuminated the state of the enterprise in terms of environment and capabilities. ...

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