IIBF Operational Risk Management Practice Questions - IIBF Certificate In Operational Risk Management (India) Exam

What is the primary role of the Operational Risk Management Function (ORMF) in a bank as the second line of defense?

To execute day-to-day operations and directly manage risks To provide independent challenge, design policies, and oversee risk management To perform independent review and validation of all controls To approve the capital adequacy returns sent to the regulator

Correct Answer:

To provide independent challenge, design policies, and oversee risk management

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