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Operational risk     Print

Risks  affecting controls and the controls infrastructure relating to the protection and utilization of existing assets and operations including how they may be leveraged for future growth. Operational risks also flow from all of the preceding situations where the entity relies on another party in a business relationship.

For example, sourcing; manufacturing; distribution and logistics; sales; franchises and licenses; privacy; quality; information technology; and security. 

Operational risk is defined by Basel II as “a risk of loss resulting from inadequate or failed internal processes, people and systems or from external events”. 

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