It is now widely recognized that Operational Risk is as important, if not more important, than credit risk or market risk for a financial institution. This course will provide a detailed analysis of key areas of operational risk including legal risk (client, employee, and shareholder claims), compliance risk (regulatory fines and sanctions), damage to assets, external events, cyber risk, internal and external fraud. Students will be exposed to the challenges of a category of risk that often results from complex interactions across people process and systems and across departments of a financial organization.