Management of Operational Risks among Financial Institutions: Implications on Performance

Abstract

This research work explored operational risk management among financial institutions in Nigeria and its implication on performance. This research work focused adherently on developing a framework for mitigating operational risks among financial institutions in Nigeria and exploring the implication of ORM on performance among financial institutions. Other business risks are well-understood, if not always managed effectively. However, the value of managing operational risk is only slowly gaining recognition in financial institutions in Nigeria. This work exposes success frameworks of international best practices which if financial institutions in Nigeria study and implement, will minimize the effect of operational risk on the performance of Nigerian financial institutions.