Regulatory Alerts2023-09-26 | NRP-42Technical Standards for Operational Risk Management of Financial Entities
The Central Reserve Bank of El Salvador issued Technical Standards NRP-42 to establish minimum guidelines for operational risk management across a broad range of financial entities. The regulation mandates the implementation of robust organizational structures, including clear roles for the Board of Directors, Risk Committee, and Senior Management, to identify, measure, and mitigate operational risks. It further requires entities to adopt specific methodologies for risk assessment, manage third-party dependencies, and maintain business continuity and information security protocols.
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