How are operational risk and business continuity coming together as a common risk management spectrum?
Abstract
As the practices of business continuity and operational risk management are so closely intertwined, this paper analyses the background and characteristics of both. It also evaluates the risk management framework and examines the interdependence of operational risk and business continuity practices. In addition, it considers how best to combine the practices in order to meet the demands of business continuity planning. There is no one answer, and the best model depends on each organisation’s unique requirements. This fact is key to any organisation’s risk management strategy. With the increased focus on both business continuity and operational risk, it is best for organisations to put in place an integrated framework that provides the foundation for managing risk.
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Author's Biography
Rajiv Vaid is Executive Vice President of Citigroup Global Services Limited. He is a banker with over 19 years’ experience and has worked in the areas of investment banking, strategic planning, retail banking, operations, risk management, governance and technology. He has extensive experience in various senior roles, including profit and loss management, risk management, people management and business turnarounds.
Citation
Vaid, Rajiv (2008, July 1). How are operational risk and business continuity coming together as a common risk management spectrum?. In the Journal of Business Continuity & Emergency Planning, Volume 2, Issue 4. https://doi.org/10.69554/RXVM2434.
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