Question

What does operational risk covers according to fsa?

Answer 1

Answer:

Operational risk is the prospect of loss resulting from inadequate or failed procedures, systems or policies. Employee errors. Systems failures. Fraud or other criminal activity. Any event that disrupts business processes.

Examples of operational risk include:

Risks arising from catastrophic events (e.g., hurricanes)

Computer hacking.

Internal and external fraud.

The failure to adhere to internal policies

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