OPERATIONAL RISK MANAGEMENT AND MONITORING

Ion Croitoru ()
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Ion Croitoru: Athenaeum University of Bucharest, Romania

Internal Auditing and Risk Management, 2014, vol. 36, issue 1, 21-31

Abstract: A major concern for every organization is to identify the risks they face. Thus, all risks associated objectives, activities or actions taken should be identified and recorded. Although there is a risk management model applicable to all organizations, this activity should be a primary concern of the management, risk manifestation otherwise lead to damage to achieve the objectives. Operational risk is the risk that the management and all staff encounters in daily and on which to exercise constant monitoring, so it does not affect the expression of the implementation of activities. This risk is related to the ongoing activities within the organization and may cause financial loss or material in case of manifestation. Operational risk is a constant and significant in an organization and manifests about ongoing activities. Exposure to operational risk organization may have an upward or downward depending on the volume and complexity of transactions carried out, the quality and reliability of systems used internal control system implemented.

Keywords: risk assessment; risk factors; risk management; operational risk; risk sources. (search for similar items in EconPapers)
Date: 2014
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