operational risk management ORM

Operational risk management (ORM) is the application of the risk management process to operational risk.

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ORM focuses on a broader spectrum of risks than does traditional risk management, including process, system, or technical failure along with event risk. However, it treats a more limited set of risks than does enterprise risk management (ERM) in that it does not address credit, market, and interest rate risk.

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Synonyms

ORM

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Operational risk is the risk of human, process, system, or technological failure as well as risks...