Operational risks exist in every financial organization, regardless of its size, in any number of forms including hurricanes, blackouts, computer hacking, and organized fraud. Managing those risks—however big or small—is critical to an organization’s success.Top of Page

Amid the ever-changing financial landscape, in which devastating events like the subprime mortgage crisis and international rogue trading have plagued the U.S. and European financial systems, addressing operational risk issues has become even more essential.

RMA’s Operational Risk Management (ORM) programs provide information on recent developments in this increasingly important discipline. We achieve this through the following initiatives:

Upcoming Events

• Operational Risk Forum
  Baltimore, MD, October 17, 2010
• Causes & Causal Analysis Understanding & Using Root Causes in Operational Risk Management
  October 14 and 21, 2010
• Operational Risk: An Overview
  October 28 and November 4, 2010
• Risk and Control Self-Assessments
  October 28 and November 4, 2010  

Industry Position Papers
Papers recently developed and released by the Advanced Measurement Approaches Group (AMAG) include:

• Business Environment and Internal Control Factors (BEICFs) (PDF)
• AMAG Views on Unit of Measure and Dependence (PDF)
• Internal Capital Adequacy Assessment Process (ICAAP) (PDF)

Recorded Audioconferences

• Flu Pandemic Disruptions

Online Training

• Operational Risk: An Interactive Introduction
• Deterring and Responding to Robberies: An Online Training Tool for Financial Institutions

Roundtables
Roundtables bring together small groups of senior bankers who have a common interest in a particular topic. Over the course of a day or two, these senior bankers explore continuing and emerging opportunities and issues in an environment that provides both formal and informal opportunities for sharing ideas. Attendance at roundtables is by invitation only to ensure common interest among the participants for each event. More information about RMA roundtables.

Services

• Advanced Measurement Approaches Group (AMAG)
• The Operational Risk data eXchange Association (ORX) 

Surveys

• Operational Risk Management: The State of the Discipline (April 2008)
• Governance, Risk, and Compliance (February 2008)
• The State of the Discipline. Survey Results (June 2007)
• What Risks Are Important? Survey Results (July 2006)
• How Serious Is the Threat of a Pandemic and What Are Bankers Doing About It? (April 2006)
• What Worries Bankers, and How Well Are They Managing? (March 2006)

Refer a Colleague – Get a discount on your RMA Operational Risk Event

If you have comments or questions about the Operational Risk area of RMA, please contact Ed DeMarco, director of operational risk, at edemarco@rmahq.org