Operational Incident & Loss Data, and Capital Calculation Internal loss data: Types of operational risk incident An operational risk incident is a result of an operational risk event i.e., failed or inadequate internal processes, people and systems or an external event.  The following are some key types of operational risk…

Key Risk Indicators Key indicator definitions Risk, Control and Performance Indicators are common but distinct metrics used in the industry.  All can play a valuable role in the measurement of the risk profile – as long as it is understood that each measures a different aspect of the business process…

Operational Risk framework To help manage operational risk, insurance companies are increasingly looking to build or modify their existing operational risk management framework. A commonly seen model includes seven components, which are Governance: vision, guiding principles, risk strategy, risk appetite, organization structure, risk glossary Risk assessment and management processes Capital:…

This article will examine the basics of operational risk management for insurance industry; although definition and the type of operational risks facing financial services companies share similar attributes, insurance industry in Vietnam has been more vulnerable to these than other companies in the financial services sector. We will look at…

In today’s global economy, business enterprises, the government, and the public are vastly expanding their reliance on automated systems to conduct their daily activities, such as using mobile devices to conduct business meetings across cities or countries, conducting retail merchant and bank activities, buying and selling inventories, controlling government health…

Software Asset Management (SAM) is as critical to an organization’s operations as some of the traditional support functions performed by HR, IT and Finance. According to Gartner, IT spending was expected to touch US$3.5 trillion in 2017, of which US$1.3 trillion is expected to be on software and services.[1] The rate…

Top management knows the importance of the reputation of their organization. Companies believe that a strong positive reputation will attract better people. Customers will also become more loyal, and buy the company’s products and services. For decades, the board of directors relies on senior management to supervise and manage risk….