Chapter 2. Risk Governance Study Notes cover the following learning objectives:
Explain the Basel regulatory expectations for the governance of an operational risk management framework.
Describe and compare the roles of different committees and the board of directors in operational risk governance.
Describe the “three lines of defense” model for operational risk governance and compare roles and responsibilities for each line of defense.
Explain best practices and regulatory expectations for the development of a risk appetite for operational risk and for a strong risk culture.
After reviewing the notes, you will be able to apply what you learned with practice questions and answers.
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