Transcription of Why COSO is - OpRisk Advisory
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Why COSO is - OpRisk Advisory
Operational risk is one of the mostsignificant risks that businesses facein today s complex global most of the world s leading institutions ithas become more than apparent thatimplementing an effective operational riskmanagement programme can help reducelosses, lower costs associated with fixingproblems and increase customer andemployee satisfaction, thereby improvingfinancial performance and enhancingshareholder value. Basel II may have forced banks to reviewtheir approach to managing operational risk,but for most leading institutions the questionwas never whether to establish such aprogramme, it was how. But many institutionsare still unsure of the benefits. Some are stillstruggling to decide whether to comply withthe BIS basic indicator, standardised oradvanced measurement , compliance issues aside, mostbanks have come to the conclusion that if theyare going to have to establish an operationalrisk management programme then they want itto be based on a sound framework.
O perational risk is one of the most significant risks that businesses face in today’s complex global economy. For most of the world’s leading institutions it
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