Regulatory Alerts2020-12-18
Added · Updated
Guide to Enhanced Competency Framework on Operational Risk Management
The Hong Kong Monetary Authority issued this guide to establish the Enhanced Competency Framework on Operational Risk Management, aiming to develop a sustainable talent pool and raise professional competence for banking practitioners. The non-statutory framework defines competency and qualification standards for relevant practitioners, offering certification as Associate or Certified Operational Risk Management Professionals through specific training modules and examinations administered by the Hong Kong Institute of Bankers. It also outlines grandfathering provisions for experienced staff, mandatory continuing professional development requirements, and the scope of roles covered within authorized institutions.
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