Any good anagrams for operational risk?

Operational risk is "the risk of a change in value caused by the fact that actual losses, incurred for inadequate or failed internal processes, people and systems, or from external events, differ from the expected losses". This definition from the Basel II regulations was also adopted by the European union Solvency II Directive.". It can also include other classes of risk, such as fraud, security, privacy protection, legal risks, physical or environmental risks. Operational risk is a broad discipline, close to good management and quality management. In similar fashion, operational risks affect client satisfaction, reputation and shareholder value, all while increasing business volatility. Contrary to other risks operational risks are usually not willingly incurred nor are they revenue driven. Moreover, they are not diversifiable and cannot be laid off, meaning that, as long as people, systems and processes remain imperfect, operational risk cannot be fully eliminated. Operational risk is, nonetheless, manageable as to keep losses within some level of risk tolerance, determined by balancing the costs of improvement against the expected benefits.

more on Definitions.net »