The bank identified a potential serious loss which was raised to the regulator and resulted in a substantial fine.
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The OpRisk Dashboard is an existing solution developed in-house, used to log a wide range of risk metrics from 50+ data sources which are exported to a report, and presented to COOs of certain businesses on a weekly/monthly basis.
The bank suffered a series of losses due to failure of operational controls, leading to a regulatory requirement to provide more comprehensive reporting.