FEATURES OF OPERATIONAL RISK MANAGEMENT IN THE REPUBLIC OF ARMENIA

Author(s)

FEATURES OF OPERATIONAL RISK MANAGEMENT IN THE REPUBLIC OF ARMENIA Jemma Poghosyan

Any type of business activity is not free from the formation of risks. Banking is also no exception. For banking business, it is important not to avoid risks in general, but to anticipate the consequences of risks and minimize their consequences. This article presents the main mechanisms for containing operational risks of banks, taking into account possible scenarios and changes. The goal is to find out how risks are managed and the possible limits of risk indicators. Forecasts of key operational risk indicators are based on banking experience and historical data, which makes it possible to monitor potential risk thresholds. According to the author, with precise management, the latter can help differentiate and limit potential risks.

DOI: 10.59503/29538009-2024.2.14-183 Cross- Cultural Studies: Education and Science Vol. 2 No. 14 (2024): 2024-2 183-195

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Keywords

bank, operational risk, legal risk, risk indicators, cyber security, risk appetite

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