FSA: Finalised Guidance on Enhancing frameworks in the Standardised Approach to Operational Risk
November 2011
The FSA has published Finalised Guidance on 'enhancing frameworks in the standardised approach to operational risk - policies and documentation'.
The guidance should assist firms and supervisors in understanding, assessing and enhancing the adequacy and effectiveness of operational risk frameworks used by firms to implement the standardised approach to operational risk.
The aim of this guidance is to assist supervisors in assessing and challenging firms' policies and documentation and the way such policies and documentation are managed. It also aims to help operational risk functions at firms to meet the standardised approach requirements for operational risk.