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
Infrastructure
(Spans the Toolkit)

Governance

Appetite / Tolerance

Categorisation

Culture

Toolkit

Loss Events Internal

Loss Events External

Risk & Control Assessment

Key Risk Indicators

Scenarios

Framework

Embedding Operational Risk Framework

Key

Published
Being Developed
Proposed

Notes

  • 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.

Published Papers

 

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 standards@ior-institute.org

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