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English to Chinese translations [PRO] Bus/Financial - Business/Commerce (general) / Operational risk management
English term or phrase:sales practices
In fact, there are huge differences between ORM and operations management.
First of all, operations management is primarily a back-office management task involving the processing and systems functions. ORM has a much broader scope than just operations management. Op risk manifests itself in all the activities of an organisation, including the head office, corporate functions, the legal department and the activities of the board of directors. Second, operations management is primarily about managing operations or process efficiency. ORM is fundamentally about managing risk, specifically preventing operational losses, particularly the large ones. Third – though this varies from region to region – in the US banking industry, the major operational risks are primarily driven by events such as fraud, sales practices violations and unauthorised activities, which may not be high-priority issues in operations management.