operational risk definition

operational risk means the risk of loss for the individual portfolio resulting from inadequate internal processes and failures in relation to people and systems of the investment service provider or from external events, and includes legal and documentation risk and risk resulting from the trading, settlement and valuation procedures operated on behalf of the individual portfolio;

operational risk means the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events, and includes legal risk;

operational risk means the risk of loss arising from inadequate or failed internal processes, personnel or systems, or from external events;

Examples of operational risk in a sentence

• As part of the Risk Management framework, the management of Credit Risk, Market Risk, Operational Risk and Fraud Risk are placed under the Head – Risk.

• The Risk Management department consist of three pillars: ■ Portfolio Compliance;■ Operational Risk Management; and■ Financial Risk Management Portfolio Compliance pillarACTIAM Risk Management monitors restrictions that are either stated in the prospectus of an investment fund or have been agreed within a mandate.

• Operational Risk Management pillarThe objective of Operational Risk Management (ORM) is to support the organisation in identifying, assessing and monitoring operational risks.

• There is also a Committee on Frauds, which reviews all frauds above a threshold amount.The Business Units and support functions, are accountable for operational risks and controls in their respective areas, which they manage under the policies, standards, processes, procedures; and operational risk management framework laid down by the independent Operational Risk Management (ORM) function.

• To ensure effective risk management in the Company, the Management Board appointed committees responsible for particular risk areas: Credit Committee, Assets and Liabilities Management Committee and Operational Risk Committee.

More Definitions of operational risk

operational risk means operational risk as defined in point (52) of Article 4(1) of Regulation (EU) No 575/2013;

operational risk means the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events, including legal risk, model risk and ICT risk, but not strategic and reputational risk;’;

operational risk means the risk of loss for the UCITS resulting from inadequate internal processes and failures in relation to people and systems of the management company or from external events, and includes legal and documentation risk and risk resulting from the trading, settlement and valuation procedures operated on behalf of the UCITS.

operational risk means any risk emanating in a contract due to systems, processes, technology error, breakdown, or non-scheduling of gas due to technical reasons;

operational risk means the risk that deficiencies in information systems or internal processes, human error, management failures, or disruptions caused by external events or outsourced services will result in the reduction, deterioration or breakdown of services provided by a SIPS;

operational risk means the risk of incurring detriment due to inadequate or failed internal processes, people, controls or from external events.

operational risk means, in relation to an entity or enterprise, as the case may be, the risk of direct or indirect loss to, or damage to the reputation of, the entity or enterprise, as the case may be, which is due to deficiencies or errors in the internal operations of the entity or enterprise, as the case may be organization, which deficiencies or errors (i) may be attributable to the employees of that entity or enterprise, as the case may be, that entity or enterprise, as the case may be, the control routines, process or technology of that entity or enterprise, as the case may be, or the execution of legal, fiduciary and agency responsibilities in respect of that entity or enterprise, as the case may be, or (ii) which may be