OPERATIONAL RISKS PRACTICES IN UNITED AMARA BANK

The purpose of this study is to investigate the operational risks practices in UAB Bank. The study was guided by the following objectives which is to identify the risk management practices in United Amara Bank and to analyze the extent types of operational risk practices in UAB Bank. The target population of this study was UAB employees in the 20 UAB Bank branches in Yangon. The descriptive analysis method was used. The structured 140 questionnaires are distributed among those branches. The finding showed that UAB Bank have in place of contingency and business continuity plans to ensure their ability to operate as going concerns and minimize losses in the event of severe business disruption. Internal controls are typically embedded in a bank’s day to day business and also designed to ensure, to the extent possible that bank activities are efficient and effective. Therefore, internal control is among the core principles of managing risks and the bank needs to get it right. As a result of analyzing the extent of the types of operational risk practices, there is a need for an effective monitoring process to maintain high standards of ethics for effective corporate governance and regular staff training as a measure to control operational risk exposure. The institution should seek an innovative team capable of creating products and making the firm a market leader in product innovation. There is a need for the institution to establish communication channels to enable employees become aware of any cases of losses resulting from deliberate employee actions and dishonesty