Senior Management
OM-2.2.5
The responsibilities of the senior management of the bank must 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 and implementing policies, processes and procedures for managing operational risk in all of the bank's products, activities, processes and systems;(e) Developing succession plans for senior staff; and(f) Developing Business Continuity Plans for the bank.October 07
