Operational Risk Management Questionnaire

Operational Risk Management Questionnaire

Professional Development

10 Qs

quiz-placeholder

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Operational Risk Management Questionnaire

Operational Risk Management Questionnaire

Assessment

Quiz

Business

Professional Development

Hard

Created by

Anas Aziz

Used 15+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

These are the principals of Operational Risk Management processes, except for:

Mitigate & control

Identify

Inspect

Assess

Monitor & report

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of COMPLIANCE TEAM in Operational Risk Management?

co-ordinate, facilitate, assess and oversee the effectiveness and integrity of risk management and update Board and Management on risk related matters on timely basis

responsible for the management and control of day to day operational risk

provide independent assurance across all business functions in respect of the effectiveness of the risk management framework

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of BUSINESS SUPPORT UNIT in Operational Risk Management?

co-ordinate, facilitate, assess and oversee the effectiveness and integrity of risk management and update Board and Management on risk related matters on timely basis

responsible for the management and control of day to day operational risk

provide independent assurance across all business functions in respect of the effectiveness of the risk management framework

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Below are Operational Management Risk Tools for PRESENT events:

Control Self-assessment (CSA) / Key Control Standard (KCS)

Risk & Control Self-Assessment (RCSA)

Operational Risk Scenario Analysis (ScAn)

Key Risk Indicator (KRI)

Loss Event Reporting (LER)

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Below are Operational Management Risk Tools for FUTURE events:

Control Self-assessment (CSA) / Key Control Standard (KCS)

Risk & Control Self-Assessment (RCSA)

Operational Risk Scenario Analysis (ScAn)

Key Risk Indicator (KRI)

Loss Event Reporting (LER)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Loss Event Reporting (LER)?

a facilitated process designed to evaluate operational risks, controls and control effectiveness, in order to establish risk profile for the business/support units that can pinpoint significant risk for further monitoring, with a view to change and improve

an audit program tool to validate the effectiveness of controls measures by applying sampling checks.

tool to monitor and manage key operational risk exposures over time

a process for reporting and monitoring operational risk loss incidents including service disruption to system failure, secrecy breach and Shariah Non-Compliance.

a systematic process in the creation of plausible operational risk events and is an essential element in operational risk management and measurement. It is a forward-looking risk management tool that examines and explores emerging tail-end events, which are usually low frequency and have a high impact.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Upon detection, all operational risk events, including Shariah Non-Compliance (SNC) are required to be reported within:

1 working day

2 working days

3 working days

4 working days

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