A useful definition of operational risk comes from the world of banking, where the Basel Accords defined it as the potential for financial loss caused by systems, by inadequate or failed internal processes, by people, and/or by external events. Operational risk continues to present an unusually large number of challenges in a fractured world. Risk is the big tent that holds such practices as cybersecurity, business continuity, disaster recovery, privacy and ethics.
Wednesday, October 16, 2024
