Principles for the Sound Management of Operational Risk

This reading is a part of the syllabus for FRM Part 2 Exam in the section ‘Operational and Integrated Risk Management’.

Principles for the Sound Management of Operational Risk, which was originally issued in 2003 as Sound Practices for the Management and Supervision of Operational Risk, highlights the evolution of operational risk management over this period. The principles outlined in the report are based on best industry practice and supervisory experience and cover three overarching themes: governance, risk management and disclosure.

[gview file="http://www.bis.org/publ/bcbs195.pdf" save=1]