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  • The Board of Directors

    • OM-1.2.3

      The Board of Directors should be aware of the major aspects of the bank's operational risk as a distinct and controllable risk category.

    • OM-1.2.4

      The responsibilities of the Board of Directors of the bank should include:

      (a) approving the bank's operational risk strategy;
      (b) periodically reviewing the bank's operational risk strategy;
      (c) approving the basic structure of the framework for managing operational risk; and
      (d) ensuring that senior management is carrying out its risk management responsibilities.