Operational Risk Management Charter

The management of operational risk is a key feature of sound risk management practice in modern financial markets. The recognition of operational risk as a specific category next to market and credit risk by the Basel Committee on Banking Supervision in the Revised International Capital Framework demonstrates its growing importance.
While the management of operational risk is the primary responsibility of each function or service responsible, the implementation of an integrated Operational Risk Management Framework shall be coordinated by a dedicated and independent team to achieve operational excellence and to ensure alignment with best market practice. At EIF, the development and implementation of that framework forms part of the remit of Compliance & Operational Risk (COR).