Back to Operational Risk Management: The State of the Discipline
Review the results of RMA’s fourth Operational Risk Survey
During the first quarter of 2007, the Risk Management Association and Oliver Wyman
conducted a survey of the current state of the operational risk management discipline in
financial services. Overall, 70 respondents participated in the survey—representing bank
and non-bank financial institutions from around the world—making this one of the more
extensive benchmarking exercises of operational risk practices in recent years.
Key Areas of the Survey
Reviewing the results of this survey will allow you to compare your experiences to those of your peers about the following:
- Regulatory Compliance
- Operational Risk Management Risk Practices
- Senior Management Engagement in Operational Risk
- Large institutions indicate a wide divergence in the state of operational risk management.
- 80% of respondents report that their ORM frameworks have moved out of the design and testing phase into production.
- A majority of respondents do not yet see operational risk management contributing to a reduction in operational losses.