BBVA accepts the definition of Operational Risk proposed by the Bank for International Settlements (BIS) in Basel: "Operational Risk is defined as the one that could potentially cause losses as a result of human errors, inadequate or faulty internal processes, system failures or external events". This definition excludes the strategic and/or business risk and the reputational risk (which is managed separately within BBVA Group).
The definition of Operational Risk (OR) in BBVA Group includes the following types of risk:
- Processes.
- External and internal fraud.
- Technological.
- Human resources.
- Commercial practices.
- Disasters.
- Suppliers.