Introduction to Operational Risk and Resilience (FRM Part 2 2023 - Book 3 - Chapter 1)

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After completing this reading you should be able to:
- Describe an operational risk management framework and assess the types of risks that can fall within the scope of such a framework.
- Describe the seven Basel II event risk categories and identify examples of operational risk events in each category.
- Explain characteristics of operational risk exposures and operational loss events, and challenges that can arise in managing operational risk due to these characteristics.
- Describe operational Resilience, identify the elements of an operational resilience framework, and summarize regulatory expectations for operational Resilience.