Spot the RISK
The risk that the enterprise, business lines or corporate functions will make strategic choices that are ineffective or insufficiently resilient to changes in the business environment.
Strategic Risk
The risk of loss resulting from people, inadequate or failed processes and systems, or from external events.
Operational Risk
The risk of negative publicity or stakeholder sentiment regarding Scotiabank’s conduct, business practices or associations
Reputational Risk
The risk to earnings or capital arising from problems with service or product delivery.
Transaction Risk
The risk that the Bank fails to comply with restrictions imposed by sanctions.
Sanctions Risk
The risk of an activity not being conducted in conformity with applicable laws, rules, regulations, and prescribed practices
Compliance Risk
"DAILY DOUBLE"
An unintended outcome resulting from operational risk and includes actual losses, gains, and potential losses and gains, as well as near misses
Operational Risk Events (ORE)
The risk to earnings or capital arising from movement of foreign exchange rates.
Foreign Exchange Risk
The risk that the Bank knowingly or unknowingly engages in money laundering and/or terrorist financing.
Money Laundering/ Terrorist Financing
"DAILY DOUBLE"
Exposure to the adverse financial and non-financial consequences caused by mismanagement, misunderstanding, or misuse of the Bank’s data assets.
Data Risk
The risk to earnings or capital arising from movements in interest rates.
Interest Rate Risk
The risk to earnings or capital arising from changes in the value of portfolios of financial instruments.
Price Risk
"DAILY DOUBLE"
Risk of adverse financial and reputational consequences arising from the design, development, implementation and/or use of a model.
Model Risk
Potential for environmental, social, or governance factors to negatively impact an organization's operations, financial performance, reputation, regulatory compliance, or long-term sustainability.
Environmental, Social, Governance (ESG) Risk
The risk that the other party to an agreement may default
Counterparty Risk
"DAILY DOUBLE"
The risk to earnings or capital arising from a bank's inability to meet its obligations when they come due, without incurring unacceptable losses.
Liquidity Risk
The risk of loss of confidentiality, integrity, or availability of information, data, or information systems and reflect the potential adverse impacts to organizations and assets, customers, and other stakeholders.
Cyber Security Risk
The risk of financial loss, disruption, or damage to reputation from a failure of information technology systems.
IT Risk
What is the maximum timeframe allowed to escalate a Non-Financial Risk event to the local Internal Control team after it is identified?
No more than 2 business days
The possibility, chance, or likelihood that a negative, harmful, or unpleasant event will occur
RISK