Enterprise Risk Management lecturer Penny Cagan shares the evolution of the field of operational risk and dispels some of its most common misconceptions.

The three lines of defence is a risk governance framework that splits responsibility for operational risk management across three functions. Individuals in the first line own and manage risk directly.

Of the main areas of risk management, operational risk has the shortest history, with the industry beginning to give it serious consideration only 25 years ago. In that time, the industry has made ...

he Reserve Bank of India (RBI) on Tuesday updated its “guidance note” on lenders’ operational risk management structure, bringing more lenders such as non-banking financial companies (NBFCs ...