Second, with ASEAN Economic Community 2025 agenda underway, the region will be increasingly integrated, stable and inclusive. Our regional integration is well-organized, and this will bring ASEAN to play greater roles in the global economy. ASEAN financial integration is now fully equipped with visions, action plans, and performance indicators, ready to be a region with responsibility and become a winning global player.
Mistakes and errors are more likely and institutions need sound policies to reduce both the underlying likelihood and impact. Operational risk management is quite process oriented and is therefore one area within which businesses can focus on continuous improvement. Incident capture, causal analysis and applying lessons learned from an operational risk event can serve to strengthen the wider business environment.