Article 321

The qualitative standards referred to in Article 312(2) are the following: an institution's internal operational risk measurement system shall be closely integrated into its day-to-day risk management processes; an institution shall have an independent risk management function for operational risk; an institution shall have in place regular reporting of operational risk exposures and loss experience and shall have in place procedures for taking appropriate corrective action; an institution's risk management system shall be well documented. An institution shall have in place routines for ensuring compliance and policies for the treatment of non-compliance; an institution shall subject its operational risk management processes and measurement systems to regular reviews performed by internal or external auditors; an institution's internal validation processes shall operate in a sound and effective manner; data flows and processes associated with an institution's risk measurement system shall be transparent and accessible.

← KAPITEL 4 · All articles · art_321__text_1 →

Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.