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10:56 Feb 7, 2012
This question was closed without grading. Reason: No acceptable answer
English to Russian translations [PRO] Bus/Financial - Business/Commerce (general)
English term or phrase:AET & Compliance
Global Operational Risk Library
The Global Operational Risk Library is the repository for all operational risk statements relevant to the Company (refer to Operational Risk Library on the ORMG website ***. The risks within the library are categorized by Risk Discipline SME, who, in conjunction with ORMG, are responsible for maintaining the contents of the library. These risk statements are reviewed by the Process Owners when creating or updating their PRSAs to determine which risks exist within their process.
ORMG will work with the Risk Discipline SMEs to ensure the Risk Library is complete and accurate on an annual basis. The ORCs will also support the Process Owners to update their PRSA risk statements for all new statements that have been identified. All new risks or modified risks in the Risk Library need to be implemented throughout the PRSAs within a quarter of the change (e.g. if a new risk is identified at any point within Q1, all PRSAs, including controls and testing will need to be updated to include the new/modified risk, if applicable, by Q2).
Both ***AET & Compliance maintain their own risk libraries separately, with minimal assistance from ORMG.