Operational risk is linked to the possibility of incurring losses from failed internal processes, people and systems or from external events (e.g. natural disasters), including legal risks.
Bankinter's operational risk management model is the 'standardised approach' according to prevailing solvency regulations. This method requires the existence of systems for identifying, measuring and managing operational risks, prior authorisation from Banco de España and an annual audit. Bankinter ensures access to best sector management practices by participating in the Spanish Operational Risk Consortium (Consorcio Español de Riesgo de Operacional), a forum of financial institutions for sharing experiences regarding operational risk management.
With a view to achieving an efficient system for managing operational risk, Bankinter has set forth the following basic principles of action:
With regard to loss events in the year, Bankinter's operational risk profile is summarised in the following charts.
Percentage breakdown by amount intervals
Percentage breakdown by line of business
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