There are countless challenges for businesses in assuring regulatory compliance. The rapidly growing data reliant systems and processes, coupled with integrated technology only prophesy a larger challenge to be conceived in the future. The secret thus lies in adopting advanced technology and automated solutions. To assess the effectiveness of a solution, we must start by […]
The Seven Operational Risk Event Types Projected by BASEL II
Bankers have reasons to fear operational risks hovering around their businesses. Any loss caused by inadequate or failed internal processes, people, systems, or by external events, can be classified under operational risks. Basel II has projected seven types of operational risks that banks and financial institutions should bring into focus: Internal fraud – Acts […]