Abstract
The centrality of the link between operational risk management and governance is underlined by the several cases of financial collapses , in which losses are mainly connected with supervisory and operational failure on behalf of the top management . Likewise, a sound operational risk management requires a focus on the organizational structure , in response to the need of combining measurement systems with efficient and adequate control units for managing operational risk . In this chapter we analyse the organizational and governance issues related to the measurement and control of operational risk, focusing on the key functions involved (e.g. committee, OR functions), on the interrelationship between the OR function and other functions (internal audit and compliance) as well as on the role of reporting and information technology.
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Birindelli, G., Ferretti, P. (2017). Operational Risk Management: Organizational and Governance Issues. In: Operational Risk Management in Banks. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-59452-5_4
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DOI: https://doi.org/10.1057/978-1-137-59452-5_4
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