Administracin del riesgo operacional en Colombia. Estado de la implementacin del SARO en el sector bancario

摘要

The growing importance of operational risk has influenced control systemsstructures and the regulation of international financial markets. This article assessesthe current state of the implementation of the Operational Risk Management System(ORMS) established under the ircular 048?by the Financial Superintendencyof Colombia at the Colombian banking sector. The assessment comprises treesubjects from the bank viewpoint: the motivation and commitment towards theoperational risk, the implementation process and contents of ircular 048? andthe practical problems regarding the implementation process of the regulation.These issues are analyzed based on the results of a survey to all local banks and aninterview with the Financial Superintendency of Colombia.