Operational Risk

Operational risks are often due to human errors or misjudgements

• True

• False

Which of these is an element of operational risk ?

• Internal Fraud

• External Fraud

• Business disruption and systems

• All of the above

Which of the following are principles for effective operational risk recommended by the Basel Committee?

• Establishing the correct culture

• Agree risk appetitie statements and tolerances

• Firms should have business resiliency and Business Continuity Plan in place

• Set aside funds for fines

What are the three lines of defence?

• CEO. CFO, and Board

• CEO, COO, and CFO

• CFO, External Auditors and Regulators

• The Business Itself, the business's internal risk and compliance functions, and the firms' internal audit function.

The following are operational risk mitigation infrastructures except

• Risk Radar

• Three lines of defence

• Building Sufficient Security funds for fines

• Risk Control Self-Assessment

All the following are Fintech Enablers except one

• AI and Machine Learning

• Open Banking

• Data Protection

• Cyber Security

All the following are risks of FinTech except one

• Depositor and Investor risk

• Overindebtedness

• Scalability

• Fraud and risk of cyber attack

Which of the following are proposed approaches to regulating FinTech?

• Wait and See

• Test and Learn

• Ignore

• Regulatory Sandbox

Regulatory technology was created to address challenges ranging from traditional compliance and risk management to data reporting and transmission

• True

• False

All the following are examples of areas RegTech is being deployed except

• Financial Crime

• Governance

• Tax Compliance

• ESG