Question: Question 1 (5) Discuss the difference between control appetite, risk appetite and risk tolerance. Illustrate your answer with examples. Question 2 (13) Define the

Question 1 (5) Discuss the difference between control appetite, risk appetite and risk tolerance. Illustrate your answer with examples. Question 2 (13) Define the concept of "event" from an operational risk management perspective and discuss how risk events are used in operational risk management. Question 3 Briefly discuss business continuity management as a risk control measure. (10) Question 4 (12) In the wake of the Covid 19 pandemic, many organisations moved to working from home and going entirely online - this increased cybercrime. Explain and give examples of people's vulnerabilities as an operational risk that may result in information security breaches due to the Covid 19 pandemic. Elaborate on the measures the organisation can take to reduce these vulnerabilities. Questions 5 (20) Analyse the figure below to differentiate between risk performance and control indicators. Use appropriate examples to substantiate your arguments. In addition, explain the concept of key risk indicators for operational risk management in detail. Figure: KPIs, KRIS and KCIS Key Performance Indicator Change in business 1 Key Risk Indicator Change in likelihood or impact. linked to RCA Key Indicators RSK4801/2022 Key Control Indicator Change in design or performance linked to RCA

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