Transcription of Basel Committee on Banking Supervision
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Basel Committee on Banking Supervision
Basel Committee on Banking Supervision Review of the Principles for the Sound Management of Operational Risk 6 October 2014 This publication is available on the BIS website ( ). Bank for International Settlements 2014. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISBN 92-9131-978-92-9131-554-3 (print) ISBN 92-9197-978-92-9131-556-7 (online) Contents Review of the Principles for the Sound Management of Operational Risk .. 1 1. Executive summary .. 1 Key findings and observations .. 1 Fundamental principles of operational risk management .. 3 Three lines of defence .. 4 Recommendations .. 5 2. Introduction .. 6 3. Findings and observations .. 6 Principle 1: Operational risk culture .. 6 Principle 2: Operational risk management framework .. 8 Principle 3: Board of directors .. 10 Principle 4: Operational risk appetite and tolerance.
include key risk and performance indicators; external data collecti; andon and analysis comparative analysis as well as the creation and monitoring of action plans generated through the use of the operational risk management tools.
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