Sound Practice Guidance
These sound practice guidance papers are designed to assist companies implement the various components that make up a robust risk management framework as illustrated below.
The papers that have been issued to date can be found by either clicking on the relevant box below or by selecting from the list of published papers shown at the bottom of the page. This will provide a description of its contents, with access to the full papers only available to members of the IOR by logging on to the members area and then selecting the appropriate SPG paper as noted above.
Coverage of the Operational Risk Framework
|Environment||External and internal
|Drivers||Business strategy and objectives
(Spans the Toolkit)
- With appropriate modification there is potential for wider application beyond Financial Services e.g. Events and near misses rather than losses or tolerance rather than appetite may be more relevant for other sectors;
- Current coverage is subject to ongoing development. It is anticipated that other areas will be explored and added over time.
- ** Embedding an Operational Risk Management Framework ** – NEW Feb 2016
- Key Risk Indicators – Updated Jan 2016
- Operational Risk Governance – Updated July 2015
- Internal Loss Events – Apr 2015
- Risk Control Self Assessment – Apr 2014
- Scenarios – Dec 2013
- Risk Culture – Nov 2013
- Risk Appetite – Oct 2012
- External Loss Events – Oct 2011
- Risk Categorisation – Sep 2011
It is the Institute’s intention that these Guidance papers evolve over time as we receive feedback and suggestions from individuals/companies who have used them. If any reader of any Sound Practice Guidance has any experience or opinions that they believe may enhance the guidance offered, they should email firstname.lastname@example.org