This work package focuses on the assessment and mitigation of the risks related to the geological storage of CO2 (e.g. CO2Care is a project funded by the European Commission under the Seventh Framework Programme.
Banks and other financial institutions face losses from a failure to manage internal processes and systems. Inadequate processes, failure of existing systems, inefficient hardware and server maintenance contribute to banking operations being adversely affected. External factors such as natural disasters, political upheavals, weak financial policies of the state, and criminal fraud have only compounded operational risks. The implementation of a robust automated solution and the development of a well-defined operational risk management policy that can identify, monitor, assess and eliminate, if not reduce, all potential risks. Operational Risks Management – Causes and Remedies was last modified: November 3rd, 2014 by Mohammed Nasser BarakatBe Sociable, Share!
About Latest Posts Mohammed Nasser BarakatPartner at CAREWeb(Mohammed Nasser) Barakat, is the BRS Service Line Leader for the ME region.

Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Operational risk arises from disruptions to daily operations that contribute to direct or indirect losses. Financial institutions, using the latest financial software technology, have grown tremendously in size, and are engaged in developing multi-structured and multi-layered products and services. The onset of manual errors and erroneous communication also occurs as a result of a huge workforce. Strong internal controls, incident and event tracking, risk profiling, use of automated e-mail alerts, and notifications are some of the key features of a sound operational risk management solution.
Nasser has an MBA in Professional Accounting and a BS Degree in Banking and Finance.He is a Certified Public Accountant in Colorado State, USA, a Certified Control Self Assessment Practitioner and a Certified Fraud Examiner.
CO2CARE concerns the final period of this life cycle beginning from the final injection phase initiation, representing the moment where the injection pressure is lowered until the final cessation of injection activities. Managing and understanding key operational risk has grown exponentially over the past few decades.

This has made the overall operations within these institutions very complex and difficult to handle. As of this moment the site is in the post-operational phase and in the pre-transfer subphase.
This has generated a need to implement tools and industry techniques to provide a sound operational risk management solution. This is essential for institutions hoping to attain their goals and business objectives quickly and successfully. As of the approval of the liability transfer by the CA the post-transfer subphase is initiating. After the liability transfer has been accomplished a reduced monitoring program may be continued by the CA.

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