Operational risk management in the banks in Republic of Croatia

Cilj ovog istraživanja bio je definirati i istražiti operativni rizik i sustav upravljanja operativnim rizikom na uzorku velikih i malih banaka te istražiti postojeći zakonodavni regulatorni okvir za upravljanje operativnim rizicima u Republici Hrvatskoj. U istraživanju odabranog problema korištena je metoda analize slučaja i komparativna analiza. Provedena je analiza sustava upravljanja operativnim rizikom na uzorku sedam banaka (pet velikih i dvije manje banke). Rezultati komparativne analize otkrivaju da banke upravljaju operativnim rizikom aktivnostima prepoznavanja, procjene, nadgledanja, kontrole i izvještavanja. Rezultati istraživanja također pokazuju kako banke za pokriće izloženosti operativnom riziku, osiguravaju putem kapitalnih zahtjeva za operativni rizik, potrebnu razinu kapitala, koja je značajno viša od propisanog zakonskog minimuma.The aim of this research was to define and investigate operational risk and operational risk management on the sample of large and small banks and to investigate existing legislature of operational risk management in Republic of Croatia. Case study method and comparative analysis method were both used in the research of the selected problem. Comparative analysis has been done on the sample of seven banks (five large and two small banks). The results of the comparative analysis in this research indicate that operational risk management in these banks is based on recognition, assessment, supervising, control and reporting of activities and processes that are closely linked to operational risk. Results of the research also indicate how these banks, in order to protect themselves from operational risk, assure capital reserves which are considerably higher from ones provided by law and legislature