Operational Risk is the possibility of incurring losses due to deficiencies, failures or inadequacies of the human resource, of the processes, of the technology, of the infrastructure, of management information, of the models used, or due to the occurrence of external events. This definition includes the legal risk associated with such factors; but excludes losses from loss of profit, reputational risk and strategic risk.
The main objectives of Operational Risk include at least:
In Bladex, Operational Risk Management is carried out through various tasks and activities seeking to reinforce our main non-financial and operational risks and in strict compliance with the guidelines of international and local regulations under the Operational Risk and Integral Risk Management.
We have defined and formalized the methodology for the management of Operational Risk according to its stages (identification, measurement, mitigation, monitoring, control and information) through:
For the correct implementation for Operational Risk Management effective, coordination between Risk Managers is required Operational (First Line of Defense), and the Operational Risk Unit (Second Line of Defense).
In Bladex we designate Operational Risk Managers in the different areas of the Banks, with the following responsibilities:
To strengthen the management of Operational Risk in Bladex and comply with regulatory provisions, we have worked to raise awareness among employees about the importance of the Risk Framework through the following mechanisms: