Financial Services group Absa reported a 122% increase in total operational risk losses to 535 million rands mainly due to increased litigation reserves for historic cases recently concluded. 

question 1 using relevant evidence and content, examine the reasons which contributed to the operational risk losses for Absa. Your response should refer to relevant examples. 

Question 1.2 Despite the various efforts that have been implemented by ABSA and many other financial institutions in preventing and mitigating operational risk occurrences, however, losses are still being incurred. Critically discuss why is this the case. 

Question 2 Risk management is a process of Identifying, assessing, and controlling financial, legal, strategic, and security risks to organisations, and in recent years, many companies have added risk management departments to their organisational structure. Comment on why this has been the case. Question 3. Qualitative risk analysis involves identifying and describing potential risks, assessing their likelihood of occurrence and potential impact in organisational objectives, and determining their relative priority based on the severity of their impact. In light of this statement, examine the primary methods that can be utilised in conducting qualitative risk assessments. 

Question 4. Some of the developments that have occurred in the risk management field relate to the emergence of various standards and frameworks that have been spearheaded by different stakeholders. Based on your understanding and using relevant examples, evaluate the relevance of risk management standards