Operational Risk Awareness

Why we should manage operational risks? Please choose 3 answers *

• Minimise operational losses

• Achieve business objectives

• Better business decision

• Common industry practice

• Reduce tax

Who responsible to manage operational risk?

• Risk Owner & Risk Agent

• Head of Department/ Branch Manager

• Chief Risk Officer

• All Staff

Please select the correct examples of the causal factor contributing to operational risk

• Process: Inabsence of dual control function (checker & maker process) for financing

• System: Non-maintenance of ATM/CDM machine resulting to frequent breakdown.

• External: Staff did not comply to internal policies and procedures

• People: Non-comprehensive of SLA (Service Level Agreement) between Bank and vendor.

What should you do once you identified any operational risk issues within your department?

• Highlight to OSRMS.

• Email to Management level

• Keep silent. Any operational risk issues shall only be highlighted to OSRMS by the Risk Owner/ Risk Agent.

• Keep monitoring

What is BCM?

• Business Compliance Management

• Business Contingency Management

• Banking Continuity Management

• Business Continuity Management

The following are the reasons why Bank requires BCM EXCEPT? *

• To carry out the critical business functions at a minimal resources during disaster

• Safeguard the Bank's customers and business partners

• Protect the Bank’s image and reputation

• Protect the banking industries

What are the objectives of Call Tree exercise

• To ensure that all staff are well-informed in a structured and prompt manner in the event of disaster.

• To ensure that the overall call time taken is within the stipulated time (120 minutes).

• To ensure that the message is conveyed to staffs correctly.

• All of the above

Identify which area Shariah Non Compliant Event (SNCE) can occur in daily business activities? Please select 3 answers.

• Employee morale

• Marketing works and promotional materials

• Legal documentation

• Execution and implementation of financing contracts

Which one of the following does not relate to the Shariah non compliance issue?

• The letter of Aqad Penyewaan Kenderaan was not signed by the customer

• The collaterals and securities shall be in line with the Shariah requirements.

• The letter of Acceptance (LOA) was not dated.

• None of the above.

As an employee of an Islamic bank, what is your direct responsibility in managing Shariah Risk?

• To report any potential Shariah risk event to the respective departments.

• Attend training to enhance Shariah knowledge.

• To comply with Shariah decisions or resolutions as decided and resolved by the Shariah authorities.

• All of the above.