Operational Risk and the associated Compliance requirements affect various areas of the business – individually and collectively. The details of implementation will, of course, vary from case to case. A generic discussion of the issues involved, must address:

• The definition and application of appropriate rules and guidelines
• Process monitoring with support for systematic – where possible, automatic – resolution of discrepancies and errors
• Reporting – on a case by case basis or across the entire process, over varying time periods