Operational risk a measurement of the potential risk for a change in value due to issues related to an organization’s operations. This happens when actual losses due to failed processes, people and systems, or external factors are greater than projected losses. In short, it’s the risk a company undertakes when operating in a given industry that are not due to inherent financial, systemic or market-wide risks. Many of the world’s largest organizations list their top operational risks as the threat from cyber attacks, fines and penalties for noncompliance with regulations, and outsourcing that leads to challenges with oversight of third-party vendors.
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