NEW TRENDS IN OPERATIONAL RISK MANAGEMENT AND CONTROL IN FINANCIAL INSTITUTIONS

The article discusses the issue of current trends in the management and control of operational risk in financial institutions. The purpose of the article is to identify the main trends in the management and control of operational risk in financial institutions, the knowledge of which will make it possible to make effective management decisions to minimize operational risks, including through the misuse of IT systems.

The research is carried out on the basis of theoretical methods of study, generalization and analysis. The basis of the work is the fundamental works of domestic and foreign authors on banking risk management and internal control.

Currently, financial institutions understand the great impact of effective risk management on profit opportunities. Thus, risk management has become an important part of financial instruments. According to recent studies, there are still problems associated with managing various types of risks. For example, the Basel Committee on Banking Supervision of the Bank for International Settlements calls on financial institutions to pay closer attention to operational risk management issues. Due to the increased intensity of financial transactions, financial institutions have become very vulnerable to operational risks. In many cases, a high level of operational risks is caused by failures of IT systems. Taking into account this fact, we can agree that the concealment of internal information and its abuse have become one of the most important factors affecting the management of operational risks in financial institutions. Currently, most of the risk management activities, in particular, in all types of financial institutions, are focused specifically on preventing and combating internal incidents and fraud.

In conclusion, the article proposes measures to reduce operational risk, including those aimed at reducing possible fraud, for example, expanding the ability of operational risk management teams to ensure information security and promote the completeness of information security in three main aspects of information security.

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