Article 13
AMA used to support the operational risk management of the institution
Competent authorities shall assess that an institution uses the AMA to support its operational risk management, by confirming at least the following:
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(a) |
that the operational risk measurement system is effectively used for the regular and prompt reporting of consistent information that accurately reflects the nature of the business and the operational risk profile of the institution; |
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(b) |
that the institution takes remedial actions to improve internal processes upon receipt of information about findings from the operational risk measurement system. |