Operational Risk Management Framework

Roles and Responsibilities

The table below clarifies the complementary but different roles and responsibilities of Operations & IT, Operational Risk Management(ORM) and Corporate Audit Services.



ORM Objectives

The objective of the Operational Risk Management function is to assist General Management with the control of the operational risks of the region, based on:

• optimisation of the internal organisation and the system of internal controls
• comprehensive framework & process of identifying, measuring & monitoring operational risks

The Operational Risk Management Team maintains, in the context of its function and responsibilities, a close contact with both the business (e.g. Marketing, Sales, Front-office) as well as the support functions (e.g. Finance, Compliance, Legal, Operations, IT, Information Risk Management, Security, Business Continuity, Credit & Market & Insurance Risk Management and CAS).