zentralerkreditaussch uss - Verband deutscher Pfandbriefbanken

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Category Term Definition
OR
Culture
The set of combined influence of individual and group values,
attitudes, competencies and patterns of behaviour (e.g.
awareness and knowledge through education and training)
that determine a firm’s commitment to and style of OR
management. It influences a firm‘s operational risk management
priorities and decision-making process.
OR
Environment
OR Guidelines
Term not used in the banking industry. A definition of this
term is not necessary in our opinion. A firm’s OR Environment
is determined by its → OR Culture and its → OR
Control Environment.
See → OR Policy.
OR
Management
The sets of activities to reduce, transfer, transform avoid and
accept OR, to which a unit/the financial institution is exposed
(part of → OR Management Process).
OR
Management
Framework
OR Management
Process
The set of prerequisites that help to introduce an → OR
Management Process. The framework consists of organisational
standards, management tools, methodologies, systems
etc.
Consists of: → identification, → assessment, reporting,
→ management and → monitoring of OR.
OR
Oversight
Function
OR
Policy
(=OR Guidelines)
Term not used in the banking industry (see → Oversight
function).
An internal document reflecting the internal and regulatory
requirements for the implementation of an → OR
Management Framework within a firm.
. . .