MLchartDataset catalogue

Operational risk management (ORM)

Term · Insurance and risk management · MLC-T-INS-002421

A framework for identifying, assessing, and mitigating risks arising from failed internal processes, people, and systems, or from external events. The operational risk management (ORM) process includes risk identification, measurement, monitoring, and reporting to manage potential losses. Financial institutions following the Basel II and III accords must hold regulatory capital specifically against this category of risk.

Table 1. Record
IdentifierMLC-T-INS-002421
FieldInsurance and risk management
AbbreviationORM
Record as JSON 
{
  "id": "MLC-T-INS-002421",
  "term": "Operational risk management (ORM)",
  "field": "Insurance and risk management",
  "definition": "A framework for identifying, assessing, and mitigating risks arising from failed internal processes, people, and systems, or from external events. The operational risk management (ORM) process includes risk identification, measurement, monitoring, and reporting to manage potential losses. Financial institutions following the Basel II and III accords must hold regulatory capital specifically against this category of risk.",
  "abbreviation": "ORM",
  "url": "https://mlchart.com/terminology/insurance/operational-risk-management-orm/"
}

Record 2,435 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.