"Operational risk is defined as the risk of loss from failed or inadequate processes, people, systems, or external events."
Key information
Understand the basics of operational risk with this excerpt, taken from Protecht co-founder David Tattam’s comprehensive book A Short Guide To Operational Risk.
From definition to its management, this introduction to operational risk will give you an understanding of what operational risk really means in today's fast-paced environment. It's not just about identifying risks; it's about understanding them well enough to manage them effectively.
What you will learn
- The fundamental definition and characteristics of operational risk
- The key differences between operational risk and other types of risks
- The objectives and key elements of effective operational risk management
- How operational risk impacts both financial and non-financial sectors
Why you should read
If you value both data-driven and intuitive approaches to risk management, this guide is for you. It provides insights that go beyond compliance, aiming for long-term risk mitigation and organisational efficiency. Equip yourself with the knowledge to not just manage risks but to shape the risk culture within your organisation. This is more than a guide; it's a roadmap to becoming a risk management visionary.About the author
David Tattam is the Chief Research & Content Officer and co-founder of the Protecht Group.
David's vision is to redefine the way the world thinks about risk and to develop risk management to its rightful place as being a key driver of value creation in each of Protecht's customers.
David is the driving force in taking Protecht's risk thinking to the frontiers of what is possible in risk management and to support the uplift of people risk capability through training and content.
