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.

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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).