Operational risks exist in every financial organization, regardless of its size, in any number of forms including hurricanes, blackouts, computer hacking, and organized fraud. Managing those risks—however big or small—is critical to an organization’s success.Top of Page

Amidst the ever-changing financial landscape, in which devastating events like the subprime mortgage crisis and international rogue trading have plagued the U.S. and European financial systems, addressing operational risk issues has become even more essential.

RMA’s Operational Risk Management (ORM) programs provide information on recent developments in this increasingly important discipline. We achieve this through the following initiatives:

Industry Position Papers
Following are two papers recently developed and released by the AMA Group:

• Business Environment and Internal Control Factors (BEICFs)
• AMAG views on Unit of Measure and Dependence

Upcoming Events

• Advanced Operational Risk Management
  Philadelphia, PA, October 1–2, 2009
  

Op Risk Web Seminars

• Practical Approaches to Operational Risk
  June 23 and 30, 2009
• Understanding External Losses for a Robust Op Risk Program
  June 23 and 30, 2009
• Understanding the Value of Scenario Analysis in Operational Risk
  July 9 and 15, 2009
• More Web Seminars

Recorded Audioconferences

• Flu Pandemic Disruptions

Online Training

• Operational Risk: An Interactive Introduction
• Deterring and Responding to Robberies: An Online Training Tool for Financial Institutions

Round Tables
Round Tables bring together small groups of senior bankers who have a common interest in a particular topic. Over the course of a day or two, these senior bankers explore continuing and emerging opportunities and issues in an environment that provides both formal and informal opportunities for sharing ideas. Attendance at Round Tables is by invitation only to ensure common interest among the participants for each event. More information about RMA Round Tables.

Services

• Advanced Measurement Approaches Group (AMAG)
• KRI Services
• The Operational Risk data eXchange Association (ORX) 

Surveys

• Operational Risk Management: The State of the Discipline (April 2008)
• Governance, Risk, and Compliance (February 2008)
• The State of the Discipline. Survey Results (June 2007)
• What Risks Are Important? Survey Results (July 2006)
• How Serious Is the Threat of a Pandemic and What Bankers Are Doing About It? (April 2006)
• What Worries Bankers, and How Well Are They Managing? (March 2006)

Refer a Colleague – Get a discount on your RMA Operational Risk Event

If you have comments or questions about the Operational Risk area of RMA, please contact Katherine F. Vitale, Associate Director of Operational Risk, RMA at kvitale@rmahq.org