Operational Risk Quiz

After reporting an operational risk incident to your manager, no further action is required

False

True

Ensuring that your departmental procedures are up-to-date is a key process of the operational risk management. When should this take place?

As soon as your process change

When an operational risk incident occurs

When CSOX Program is conducted

When you are instructed to do so by ORM

Which of the following statements in relation to operational risk escalation is true?

Any operational risk incident can be reported to ORM for further analysis

Only ORI > USD 50,000 need a written incident report

Regulatory incidents need to be escalated to Compliance only

Senior Management care only about incident leading to financial impact

In your day-to-day interaction with other CLSA teams, who is responsible for reporting operational risk incident?

ORM

Compliance

You

Operations

You are part of the Finance team and receive a voice message from a client to send a wire payment to a specific bank account. What should you do?

Transfer the fund as requested

Ask your manager to confirm the payment and send the funds to the account mentioned on the voice message.

Call back the client and request for an email with the explanation of the payment.

Report a suspicious behaviour to ORM

Which of the following could involve a BCP activation?

Traders cannot see any new orders on their screen.

One staff has been diagnosed with zika virus.

The company above CLSA trading floor is experiencing serious flood.

A fat finger incident resulted in a trading error of USD100,000.

Your local Crisis Management Team asks you to evacuate the building, where do you go?

Home

DR site

Meeting point

In front of the building entrance

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