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Success Factors
>Regulatory Emphasis – Realization of its
impact
–Guidelines, Deadlines, Seminars, Audits
and Penalties
–Training and certification to promote
correct approach
–Industry level Risk Assessment
Workshops
>Executive Management/ Board Level
Support
–Regulatory Instructions for strong control
environment/ operational risk whereby board is to review and sign off
>Dedicated Team – Bank
–Separate from Audit, compliance and
operations
>Risk Management Culture
>Automation – Continuity
–Real Value in risk mitigation not
collection of data