Operational Risk is understood as the risk of losses resulting from failures in internal processes, deficiencies in personnel performance, system failures, or those resulting from external events. It includes legal risk and excludes strategic and reputational risks.
Banco de Valores within Integrated Risk Management has created a specific Operational Risk Management Area in order to conduct the effective implementation of the Operational Risk Management Framework and establish the procedures as well as the roles and responsibilities of the actors involved.
Banco de Valores manages the Operational Risk pertaining to its relevant products, activities, processes and systems, information technology and security processes, as well as the risks arising from outsourced activities and services provided by suppliers. The aforementioned management includes the identification, evaluation, follow-up, control and mitigation of operational risks.
Banco de Valores also ensures the adequate assessment of operational risks before launching or presenting new products, activities, processes or systems.
In this way, the Entity has the structure and resources required to establish the operational risk profile and, if necessary, take the appropriate corrective actions.
At Banco de Valores, we understand that proper management of Operational Risks also contributes to improving the quality of the service provided to our clients.