Regulatory Alerts2005-11-28
Added · Updated
Supervisory Policy Manual SPM OR-1 Operational Risk Management
The Hong Kong Monetary Authority issued Supervisory Policy Manual SPM OR-1 to provide high-level guidance for authorized institutions on establishing a sound operational risk management framework. The module outlines sound practices for identifying, assessing, and controlling operational risk, serving as a reference for meeting qualitative criteria to use the Standardised or Alternative Standardised Approach for Basel II capital charges. Institutions intending to apply these approaches by January 2007 must notify the HKMA and demonstrate compliance with qualifying criteria through written submissions of their risk management policies and procedures.
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