Some operational risk events faced by JP Morgan and other firm are:
- Internal fraud
- External fraud
- Damage to physical assets
- Business disruption
- Systems failures
What is an operational risk event?
This refers to an incident or experience that has caused or that has a potential to cause some material loss to the firm either directly or indirectly with other incidents.
Some example of an operational risk involves some employee errors, criminal activity like fraud, physical events etc.
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