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  • Senior management

    • OM-1.2.5

      The responsibilities of the Senior management of the bank should include:

      (a) implementing the operational risk strategy approved by the Board of Directors;
      (b) ensuring that the strategy is implemented consistently throughout the whole banking organisation;
      (c) ensuring that all levels of staff understand their responsibilities with respect to operational risk management;
      (d) developing policies, processes and procedures for managing operational risk in all of the bank's products, activities, processes and systems; and
      (e) Developing succession plans for senior staff.