For purposes of my talk today, I am going to refer to operational risk as any risk that arises from inadequate or failed internal processes, people, or systems or from external events. Examples of operational risk include employee fraud, customer lawsuits, failed information system conversions, and mis-sent wires. Operational risk has always been part of banking.
Decisions on profit distribution, for example, require the careful balancing of the interests of multiple stakeholder groups – not just shareholders as in conventional banks, but the  2  BIS Review 162/2008  interests of the holders of investment accounts as well.