Applying the Meta-Synthesis Method in Banking Operational Risk Management Methodology

In recent years, after the economic crises, the value of operational risk assessment has been observed in the financial industry, while the biggest impact of operational risk has been on the banking industry. As a result, more attention has been paid to operational risk assessment in the banking industry after the financial crisis. Operational risk is defined as the risk of loss caused by the inadequacy or inefficiency of internal processes, people, systems, or external events. In this regard, institutions and banks have been looking for operational risk assessment by taking different approaches, including the approaches of the Basel Committee. The current research aimed to review operational risk management in the banking industry. Using the meta-synthesis method, 643 related research documents between 2000 and 2022 were gathered from among reliable scientific databases. By using this method, 43 final documents made the basis for extracting the findings. Finally, this method identified 5 main categories, including operational risk, risk assessment, risk quantification methods, risk analysis, and risk management, as well as 10 subcategories consisting of 43 concepts and 169 codes. The results were confirmed based on the experts’ opinions with a kappa index of 0.756.