SAMA operational risk management focuses on identifying, assessing, monitoring, controlling, and reporting risk from people, process, systems, and external events. Third parties and technology providers are part of that profile.
Official sources
What teams need to do
- Maintain operational risk governance and risk assessments.
- Track incidents, losses, control failures, provider failures, and technology issues.
- Connect outsourcing, cyber, BCM, and operational risk records.
- Report issues, root cause, remediation, and risk trends.
Evidence to maintain
- Operational risk framework and RCSA evidence.
- Incident, loss, issue, root-cause, and remediation records.
- Provider and system dependency evidence.
- Management reporting.
Common gaps
- Provider incidents are not reflected in operational risk reporting.
- Remediation is closed without root-cause validation.
- BCM and outsourcing records are separate.
How Halbarad helps
Halbarad helps connect operational risk events to providers, systems, issues, remediation, and reporting.
Disclaimer
This guide is for general information only and is not legal advice. Review the official regulation, guidance, and supervisory materials, and consult qualified counsel or compliance advisors for your organization's specific obligations.