What are 'Operational Risks' in a bank? Discuss the various methodologies adopted for the measurement of operational risks in a bank

Operational risks refer to the potential losses that may arise from inadequate or failed internal processes, human errors, or external events. In the context of a bank, operational risks can be classified into various categories, including technology risks, fraud and security risks, legal and compliance risks, and business continuity risks.

Technology risks include the risks associated with the use of technology and information systems in a bank's operations. This may include failures in hardware or software systems, cybersecurity breaches, data breaches, and operational disruptions.

Fraud and security risks refer to the risk of losses due to criminal activities such as theft, embezzlement, money laundering, and other financial crimes. In addition, there may be risks associated with the physical security of bank branches, ATMs, and other bank assets.

Legal and compliance risks refer to the potential for losses arising from non-compliance with laws, regulations, or internal policies. ______ ____ ______ __________ _________ __________ ____ __________ _________ ________ _________ ___.
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