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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

Whole SectionText only Print Print Manager Link

(1 version)
Dec 9 2012 onwards

PIB 6.3.2 Guidance

Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

1. An Authorised FirmG should have policies and procedures that address the process for review and approval of new products, activities, processes and systems. The review and approval process should include consideration of:
a. inherent risks in any new product, service, or activity;
b. resulting changes to the Authorised Firm'sG Operational RiskG profile, appetite and tolerance, including changes to the risk of existing products or activities;
c. necessary controls, risk management processes, and risk mitigation strategies;
d. residual risk;
e. changes to relevant risk limits;
f. procedures and metrics to measure, monitor, and manage the risk of the new product or activity; and
g. appropriate investment in human resources and technology infrastructure.
2. Tools that an Authorised FirmG may employ for identifying and assessing Operational RiskG include:
a. internal loss data collection and analysis;
b. external data collection and analysis;
c. risk assessments;
d. business process mapping;
e. risk and performance indicators; and
f. scenario analysis.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]