Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 13 AMA used to support the operational risk management of the institution

Competent authorities shall assess that an institution uses the AMA to support its operational risk management, by confirming at least the following:

  1. (a)

    that the operational risk measurement system is effectively used for the regular and prompt reporting of consistent information that accurately reflects the nature of the business and the operational risk profile of the institution;

  2. (b)

    that the institution takes remedial actions to improve internal processes upon receipt of information about findings from the operational risk measurement system.