Risk Governance (FRM Part 2 2023 – Book 3 – Operational Risk and Resilience – Chapter 2)

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After completing this reading you should be able to:
- 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.