Describe the Operational Risk Management process of a Bank of your choice.  

Operational risk management is an essential component of a bank's risk management framework, and it involves identifying, assessing, mitigating, and monitoring risks associated with operational activities. Here are the key steps involved in the operational risk management process:

1. Risk Identification: The first step in operational risk management is to identify and understand the potential risks that can arise from a bank's operations. This includes identifying risks associated with internal processes, technology, people, external events, and legal and regulatory compliance. Risk identification can be done through various methods, such as risk assessments, self-assessments, incident reporting, and scenario analysis.

2. Risk Assessment: Once the risks are identified, the next step is to assess their potential impact and likelihood. This involves quantifying and qualifying the risks based on their potential financial, reputational, and regulatory impacts. Risk assessments help prioritize risks based on their significance and enable the bank to allocate resources and develop appropriate risk mitigation strategies.

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