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Essential Data Elements of an AMA Model

Essential Data Elements of an AMA Model :

A bank should include in its ORMS the use of the following four AMA elements:
 internal data;
 relevant external operational risk data;
 scenario analysis; and
 business environment and internal control factors (BEICFs).

The bank should ensure that its approach for weighting the four fundamental elements avoids the double counting of qualitative assessments or risk mitigants already recognised in other elements of the framework.

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