Citibank is a US Bank which lost US$500 million due to human error in August 2020. Read the case (paying special attention to the YouTube video) noted in the link below, and answer the following questions:

https://www.theuxda.com/blog/banking-back-office-transformation-ux-case-study

1. Explain how compliance to this risk management programme can prevent the operation risk issue experienced by Citibank.

2. Discuss the importance of an internal risk assessment and auditing process in relation to this case