Who must manage operational risk?

The subjects of the supervisory regime — financial institutions and other supervised persons.

What is the supervisory approach?

Risk-based — intensity is determined by the subject's risk profile.

What does the committee give the system?

Crisis-management mechanisms, joint identification of systemic risks and operational planning.

May a licence be refused?

Yes — where there is a threat to stability, an opaque structure or incomplete information.

Operational Risk Management in Georgia

The Georgian Framework of Operational Risk Management

Operational risk management is mandatory in Georgia for the financial sector, and its statutory framework lies in the Organic Law on the National Bank of Georgia: the mandate, the supervisory toolkit, the sectoral detail and crisis preparedness. At the same time, the operational-risk framework of international banking supervision is a non-Georgian international standard — the National Bank exercises its localized supervision; outside the financial sector operational risk is not statutorily regulated, and the page carries this framework precisely from the perspective of financial-sector subjects.