As stated earlier, CGC’s approach to managing Operational Risks from a Basel Capital Accord perspective is to treat such risks as part of the overall risk portfolio and then provide specific reporting capabilities to filter out and report on such risks. Assume an Entity has 30 risks and 20 of those also relate to the Basel Accord, this report will re-sort the 20 risks under the following headings:
▪Basel Risk Category (i.e. Level I)
▪Basel Event Type (i.e. Level II)
▪Basel Risk; (i.e. Level III)
For example:
Notice that the Basel Risk “Missed deadline or responsibility” falls under the same Basel Type and Risk Category as the previous heading and therefore the Basel Type and Risk Category headings have been excluded.