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Operational Risk Management: Regulatory Framework and Operational Impact

In: Measuring and Managing Operational Risk

Author

Listed:
  • Paola Leone

    (Sapienza University of Rome)

  • Pasqualina Porretta

    (Sapienza University of Rome)

Abstract

Banks must establish an independent Operational Risk Management function aimed at defining policies, procedures and methodologies for identifying, measuring, monitoring and controlling operational risks. In this perspective, this chapter analyses (a) the regulatory framework on the operational capital requirement; (b) the regulatory view on Operational Risk Management; and (c) the new Supervisory Review and Evaluation Process (SREP) in relation to operational risk. The chapter also attempts to propose an integrated approach able to defining, managing, monitoring and reporting operational losses together with capital planning, ICAAP (Internal Capital Adequacy Assessment Process), RAF (Risk Appetite Framework) and risk culture of financial intermediaries also in accordance with the new SREP perspective.

Suggested Citation

  • Paola Leone & Pasqualina Porretta, 2018. "Operational Risk Management: Regulatory Framework and Operational Impact," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Paola Leone & Pasqualina Porretta & Mario Vellella (ed.), Measuring and Managing Operational Risk, chapter 0, pages 25-93, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-319-69410-8_2
    DOI: 10.1007/978-3-319-69410-8_2
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    Cited by:

    1. Bertrand K. Hassani & Alexis Renaudin, 2018. "The Cascade Bayesian Approach: Prior Transformation for a Controlled Integration of Internal Data, External Data and Scenarios," Risks, MDPI, vol. 6(2), pages 1-17, April.

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