DESCRIPTION Objectives On completion of this tutorial, you will be able to:

• Identify the main factors that led to the emergence and development of operational risk management in banking
• List the key regulatory requirements in relation to operational risk
• Recognize the key lessons to be learned from some high-profile operational risk failures
• Identify the main emerging risks that banks are facing and their potential impact

Tutorial Overview Operational risk has always existed, both for banks and other organizations. But the size and nature of the operational risk exposures that banks must manage continue to evolve and change. This tutorial provides an overview of how and why operational risk management emerged as a separate risk discipline, how it has evolved subsequently, and how it could be affected by emerging risks. It also looks at some high-profile operational risk events that have resulted in bank failures, fines, and/or losses, as well as the lessons learned from these events. Prerequisite Knowledge Operational Risk Management - Tools & Techniques Tutorial Level: Intermediate Tutorial Duration: 75 minutes