A vital means of understanding the nature and complexity of operational risk is to have the components of the Framework fully integrated into the overall risk management processes of the bank. The Framework should be appropriately integrated into the risk management processes across all levels of the organisation including those at the group and business line levels, as well as into new business initiatives. products, activities, processes and systems. In addition, results of the bank's operational risk assessment should be incorporated into the overall bank business strategy development processes.
Added: October 2012