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  • Establishing a Strong Risk Culture

    • OM-1.1.5

      The Board of Directors must take the lead in establishing a strong operational risk management culture in the bank that supports and provides appropriate standards and incentives for effectively managing operational risk and for promoting professional and responsible behaviour.

      Added: January 2020

    • OM-1.1.6

      For branches of foreign bank licensees, all references in this Module to the board of directors should be interpreted as the Head Office/Regional Office unless such responsibility is formally delegated to a committee at the branch level.

      Added: January 2020