Operational Risk Management (ORM) is an enterprise-level independent risk management function responsible for enterprise-wide oversight and aggregation of operational risk. Its mandate covers all business lines (U.S. Consumer Cards, Wealth Management, Services, Markets, Banking & International, and Client) along with Functions (e.g., Technology, Finance, COO, HR, etc.) spanning all geographies.

The ORM function oversees the design and implementation of the non-financial risk management framework. Key objectives of the risk management framework are:

+ **Operating model, staffing and culture:** Ensure the operating model across lines of defense is clear and consistent with sufficient resources, expertise, accountability and stature, and that it is enabled by structured training and awareness program to effectively manage and oversee operational risk
+ **Operational risk appetite:** Clearly articulate risk definitions and appetite and make sure they are aligned ag...