Evaluación de riesgos operativos en el Departamento de Crédito de la Cooperativa de Ahorro y Crédito Promoción de Vida Asociada Ltda. Provida, en el periodo 2016

Abstract

Financial institutions are part of a high level of complexity and uncertainty market. In particular, the cooperative sector which owing to its size and structure could be susceptible to risks. For this reason our integrating project intends to conduct “An assessment of the operational risks in the Department of Credit of the Savings and Credit Cooperative (Cooperativa de Ahorro y Crédito Promoción de Vida Asociada Ltda. PROVIDA) in the period 2016” the purpose is to manage the susceptible risks properly thus enabling the financial institution to reduce the economic loss and strengthen its corporate image. For this research project we will conduct an operational risk assessment using the COSO ERM methodology that allows identifying, evaluating, responding, communicating, and monitoring the risks of the cooperative. In order to identify the risks a questionnaire of internal control, direct observation, and flow charts will be used. Subsequently, the risks of low confidence will be identified through the application of a risk matrix. Once the potential risks are identified, strategies, procedures, policies, and methodologies will be established in order to reduce the impact. An adequate risk management will enable the financial institution to achieve its objectives.