Certbie
Question 1 of 30
\"Veridian Investments,\" a boutique asset management firm pursuing ISO 9001:2015 certification, is reviewing its operational risk management practices. The firm has experienced several near-miss incidents related to regulatory reporting errors, trade execution mistakes, and data security breaches, raising concerns about potential non-compliance and financial losses. Recognizing the importance of aligning its risk management framework with ISO 9001:2015 principles, which of the following approaches would BEST demonstrate a commitment to integrating operational risk management with regulatory compliance within the context of the firm\'s quality management system?
Establishing a cross-functional team to identify, assess, and mitigate operational risks, ensuring alignment with relevant regulatory requirements (e.g., SEC, FINRA), and integrating these risk management activities into the firm's documented QMS processes with a focus on continuous improvement and employee training on compliance matters.
Conducting an annual audit of the firm's compliance with regulatory requirements, addressing any identified deficiencies on an ad-hoc basis, and relying on senior management's experience to manage operational risks without formal documentation or process integration.
Implementing a basic cybersecurity protocol to protect sensitive client data, delegating responsibility for regulatory compliance to the legal department without involving other functional areas, and focusing primarily on maximizing investment returns to offset potential financial losses from operational risks.
Outsourcing all regulatory compliance functions to a third-party vendor, reducing internal resources allocated to risk management, and assuming that the vendor's expertise will adequately address all potential operational risks and ensure adherence to relevant regulations.

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