Except for the possibility that employee practices making error, a potential for cybersecurity threats that could compromise sensitive data related to the new product
Operational failures in handling, storing, or retrieving data related to trades, storage levels, transportation.Failures in this area can lead to financial discrepancies, regulatory breaches, and operational inefficiencies.
Environmental and Sustainability Risk: There is an increasing focus on environmental and sustainability issues in the oil industry. The bank may face risks related to environmental damage, regulatory changes, or changing customer preferences.
Risk Exposure:
Operational Risk: Risks arising from the physical handling of oil, such as storage, transportation, and delivery.
Legal and Compliance Risk: Potential breaches of trading regulations, sanctions, or contractual obligations.
Reputational Risk: The impact on the bank’s reputation from the performance of the new business or environmental and ethical concerns.
Except for the possibility that employee practices making error, a potential for cybersecurity threats that could compromise sensitive data related to the new product
Damage to physical assets: there could be incidents happening to the storage cite such as theft.
System failure: there could be technical issues happening during the new product launch.
Operational failures in handling, storing, or retrieving data related to trades, storage levels, transportation.Failures in this area can lead to financial discrepancies, regulatory breaches, and operational inefficiencies.
Environmental and Sustainability Risk: There is an increasing focus on environmental and sustainability issues in the oil industry. The bank may face risks related to environmental damage, regulatory changes, or changing customer preferences.