Operational risk and enterprise risk management

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Think about operational risk and enterprise risk management (ERM) associated with financial institutions especially banks. Are these principles/rules applicable to non-financial corporations? Use Pacific Gas & Electric (PG&E)'s experience with its filing for bankruptcy in 2019 resulting from the deadly wildfire caused by its poorly maintained equipment as an example to discuss how to apply the principles/rules identified for banks to non-financial companies. Be sure to cover the category of operational risk, causes, some possible quantitative measures of damage, and some possible methods to prevent it from happening (at all or again) identified for PG&E. In addition, briefly discuss a possible ERM framework for PG&E including types of risks covered in this framework and possible risk appetite, risk culture, and possible procedures used in managing these risks.

Reference no: EM133118668

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