Operational Risk Management In Nigeria Banks (a Case Study Of Guaranty Trust Bank Plc)

INTRODUCTIONOperation risk management is an essential part of business because firms cannot operate without taking risks. Risk is commonly associated with uncertainty, as the event may or may not occur. Risk implies exposure to uncertainty or threat (Kannan and Thangavel, 2008); and ‘a decision to do nothing explicitly avoids the opportunities that exist and leaving the threats unmanaged’ (Joel, 2011). Traditionally, risk has been viewed as negative consequences and unfavourable events. The consideration of risk from the negative perspective is restrictive and misleading for two main reasons. …