Review:
Operational Risk
overall review score: 4.2
⭐⭐⭐⭐⭐
score is between 0 and 5
Operational risk refers to the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events.
Key Features
- Internal processes
- People
- Systems
- External events
Pros
- Identifying and managing operational risks can help organizations in preventing financial losses and reputational damage.
- Provides insights into potential weaknesses in internal processes and systems.
Cons
- Difficult to quantify and measure accurately.
- Requires continuous monitoring and assessments.