S udies Managemen and Finance Economics, o Jou nal
0504-2644 (online): ISSN 0490,-2644 (p in ): ISSN
5202 No embe 11 Issue 80 Volume
8.317 Fac o : Impac ,29-i11-10.47191/je ms/ 8 DOI: A icle
4137-7390 No: Page
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7390
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
I Wayan Budi A ha
T ia ma Mulya Uni e si y, Bali
ABSTRACT: Bank ope a ional isk is a key challenge in he global banking indus y, which con inues o e ol e wi h business
complexi y and egula o y changes. This isk includes in e nal p ocess ailu es, human e o s, echnological sys em ailu es, o
ex e nal e en s ha can lead o signi ican inancial losses. This s udy aims o hema ically analyze hese bank ope a ional isks
using a Sys ema ic Li e a u e Re iew (SLR) app oach ha ollows he P e e ed Repo ing I ems o Sys ema ic Re iews and Me a-
Analyses (PRISMA) guidelines. The esul s show ha igno ing s anda d ope a ing p ocedu es (SOPs) is he mos signi ican cause
o ope a ional isk om in e nal p ocess ailu es, ollowed by e o s in accoun opening and ansac ion p ocesses, and inadequa e
quali y con ol. Mis akes in execu ing ansac ions and p ocedu es a e he mos common ope a ional isk e en s caused by human
e o , ollowed by aud and unau ho ized ading. Ope a ional isk due o echnological sys em ailu es is la gely due o
ope a ional e o s ela ed o he abili y o use echnology, ollowed by cybe a acks and unau ho ized use o echnology.
Ope a ional isk in banking due o ex e nal e en s p edominan ly occu s when he e a e unexpec ed changes in legisla ion, which
is he case in almos all exis ing s udies ha ha e a signi ican impac on ope a ional isk managemen in he banking sec o .
KEYWORDS: Bank Ope a ional Risk, Thema ic Analysis, Sys ema ic Li e a u e Re iew (SLR), PRISMA.
BACKGROUND
Bank ope a ional isk is a key challenge in he global banking indus y, which con inues o e ol e wi h business complexi y
and egula o y changes. This isk includes in e nal p ocess ailu es, human e o , echnological sys ems, o ex e nal e en s ha
can lead o signi ican inancial losses (Che nobai e al., 2021; Elame e al., 2020). O e he pas ew decades, esea ch on
ope a ional isk has e ol ed signi ican ly. Ea ly s udies, such as Han e al. (2015), used Ex eme Value Theo y (EVT) o analyze
ope a ional isk in Chinese banks, pa icula ly ela ed o in e nal aud. La e , McNul y e al. (2017) explo ed he ela ionship
be ween bank legal expenses and ope a ional isk in he Uni ed S a es, demons a ing he impo ance o in e nal con ols in isk
mi iga ion. Recen de elopmen s indica e ha ope a ional isk is inc easingly in luenced by ex e nal ac o s such as inancial
de egula ion (Si e al., 2021) and echnological inno a ion (Hu e al., 2024). Fu he mo e, esea ch by Galle a e al. (2023)
highligh ed he ole o bank epu a ion and En i onmen al, Social, and Go e nance (ESG) ac o s in ope a ional isk managemen .
Fu he mo e, new app oaches such as dynamic sys ems (Ji a ichai & Banomyong, 2022) and o ganiza ional in o ma ion p ocessing
heo y (Yin e al., 2024) a e beginning o be used o unde s and he complexi y o ope a ional isk in he digi al age. A s udy by
Sobano a and Kudinska (2024) also emphasized he impo ance o ope a ional isk managemen in he ace o global ins abili y,
such as he COVID-19 pandemic and geopoli ical con lic s. Adequa e disclosu e and mi iga ion o ope a ional isk can main ain a
bank's inancial pe o mance.(Nei a , 2025; Elbad y, 2025; Gadzo e al., 2019; Gya e al., 2021; Nguyen & Dang, 2023) O e all,
esea ch on ope a ional isk con inues o e ol e, e lec ing he need o a mo e holis ic and adap i e app oach o add essing
dynamic global challenges.
In ecen yea s, he opic o ope a ional isk managemen has unde gone signi ican changes and de elopmen s, pa icula ly
in he con ex o he in luence o new echnologies and en i onmen al ac o s. P e iously, esea ch on ope a ional isk ended o
ocus on in e nal ac o s such as co po a e go e nance and o e sigh mechanisms (Nei a & Ja boui, 2018; Elame e al., 2020).
Howe e , wi h inc easing digi aliza ion, echnology has now become a key ac o in luencing ope a ional isk in he banking and
inancial sec o (Hu e al., 2024). Resea ch by Hu e al. (2024) shows ha echnological inno a ion inc eases ope a ional isk due
o echnical complexi y ha leads o mal unc ions, pa icula ly in banks wi hou a his o y o echnical ailu es. Fu he mo e, a
s udy by Uddin e al. (2023) ound ha digi al ans o ma ion inc eases ope a ional isk exposu e, pa icula ly wi hin he Basel
capi al p o ision amewo k, al hough he e ec a ies by echnology egime. Ano he in e es ing de elopmen is he eme gence
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7391
o En i onmen al, Social, and Go e nance (ESG) as a ac o in luencing ope a ional isk. Galle a e al. (2023) ound ha highe
ESG sco es educed banks' ope a ional isks, sugges ing ha ESG p ac ices can se e as a isk mi iga ion ool. B uno e al. (2025)
also e ealed ha cybe secu i y policies and ESG ha e a syne gis ic ela ionship in imp o ing bank pe o mance, suppo ing he
Risk-Re u n T ade-O p inciple. This new app oach di e s om he olde concep ha ocused mo e on in e nal go e nance and
o e sigh s uc u es, signaling a shi owa ds in eg a ing en i onmen al and social ac o s in o isk managemen . Mode n ends
also show he inc easing use o echnologies such as blockchain o mi iga e ope a ional and supply isks, pa icula ly in he con ex
o he COVID-19 pandemic. Bai e al. (2024) ound ha blockchain- ela ed companies expe ienced smalle ma ke losses han non-
blockchain companies, sugges ing ha blockchain echnology can se e as a isk bu e du ing c ises. This unde sco es he
impo ance o echnology as a isk mi iga ion ool in an inc easingly complex business en i onmen . Fu he mo e, Co nwell e al.
(2023) in oduced a Bayesian ne wo k-based app oach o quan i a i ely and eal- imely analyze he d i e s o ope a ional isk,
eplacing adi ional, mo e manual and less p ecise me hods. These changes ha e impac ed isk managemen p ac ices by
encou aging a mo e p oac i e and da a-d i en app oach. Fo example, Xu e al.'s (2019) s udy p oposed a mul iple co ela ion
model o measu ing ope a ional isk, which signi ican ly educes di e si ica ion isk compa ed o adi ional comono onic
models.This new app oach is ele an o cu en ends emphasizing he impo ance o big da a analy ics and a i icial in elligence
in isk managemen . The e o e, esea ch and discussion on his opic a e inc easingly ele an , especially in he con ex o e ol ing
business dynamics and inc easingly complex isk challenges.
Li e a u e e iew has become an impo an me hod o explo ing and syn hesizing cu en knowledge in speci ic ields,
including ope a ional isk managemen in banking. Ji a ichai and Banomyong (2022) p oposed a sys ema ic h ee-s ep
me hodology o iden i ying and de eloping keywo ds in a li e a u e e iew, speci ically in he con ex o ope a ional isk
managemen in banking. Th ough his app oach, hey unco e ed signi ican gaps in he li e a u e, such as con o e sies ega ding
measu emen models and he eliabili y o loss da a, and ound ha only a sys em dynamics app oach has been applied in his
ield, albei wi h signi ican me hodological limi a ions. The e iew me hod used in his s udy helped iden i y unde explo ed
esea ch ends, such as he need o in e disciplina y app oaches and u he es ing o sys em dynamics models in ope a ional
isk managemen . Howe e , his s udy also has limi a ions, such as he exclusion o non-English and non-pee - e iewed sou ces,
and limi ed alida ion o a small numbe o s udies. Recommenda ions include in e disciplina y collabo a ion, concep ual model
es ing, and expanding he scope o da abases o u u e esea ch (Ji a ichai & Banomyong, 2022). The esul s o his s udy indica e
ha a sys ema ic li e a u e e iew me hod can no only e eal consis encies and inconsis encies in p e ious esea ch indings, bu
can also p o ide aluable di ec ions o u he esea ch in a complex ield such as banking ope a ional isk managemen .
The e olu ion o esea ch on ope a ional isk in banking has been sys ema ically mapped h ough a ious li e a u e e iew
app oaches, bu signi ican gaps emain in syn hesizing con empo a y de elopmen s. An ini ial sys ema ic li e a u e e iew (SLR)
by Ji a ichai and Banomyong (2022) iden i ied c i ical gaps in he ope a ional isk managemen (ORM) li e a u e, pa icula ly
con o e sies su ounding measu emen models and he eliabili y o loss da a, while p oposing sys em dynamics as an
in e disciplina y app oach o add ess hese issues. Howe e , hei s udy was limi ed by i s eliance on pee - e iewed English-
language sou ces and i s na ow ocus on me hodological gaps, lea ing b oade hema ic and con ex ual syn hesis unexplo ed.
Ne e heless, he majo i y (84%) o he esea ch me hods used we e quan i a i e due o he magni ude o he isks o be
measu ed, which will impac company pe o mance. This s udy a emp s o examine ope a ional isk in banks quali a i ely h ough
a hema ic app oach: in e nal business p ocess ailu es, human e o s, echnology sys em ailu es, and ex e nal e en s.
AnThema ic analysis will be used o examine each heme and case s udies om a ious global banks. This analysis is
designed o o e a dis inc and inno a i e app oach o ope a ional isk managemen in banking, using he Sys ema ic Li e a u e
Re iew me hod as he p ima y ool.
This sys ema ic li e a u e e iew aims o explo e and analyze in dep h a ious aspec s o ope a ional isk in he banking
sec o hema ically, including:in e nal p ocess ailu es, human e o s, sys em and echnology ailu es and ex e nal e en s ha
in luence he eme gence o ope a ional isks(Che nobai e al., 2021; Elame e al., 2020). The sub- hemes o in e nal p ocess
ailu e include, among o he s:sending w ong documen s, e o s in he accoun opening p ocess and cus ome ansac ions,
inadequa e quali y con ol, and igno ing SOPs. Human e o includesThese include: aud, e o s in ansac ions and p ocedu es,
unau ho ized ading, unde s a ing, hi ing and layo s, wo kplace acciden s, s ikes, disc imina ion, inadequa e aining and
managemen , and unclea sepa a ion o powe s. Sys em and echnology ailu es include:cybe a acks, ope a ional e o s ela ed
o he abili y o use echnology, use o echnology by unau ho ized pe sons, ailu e o comple eness and una ailabili y o
ha dwa e, secu i y agains hacking and i ewall ailu e.Meanwhile, ex e nal e en s include, among o he s:unexpec ed changes in
laws, obbe ies, e o is a acks, na u al disas e s and clima e change.
Thus, his SLR no only summa izes p e ious indings bu also p oposes an inno a i e pe spec i e ha can en ich he
unde s anding o ope a ional isk. I also ills a con ex ual gap by p o iding c oss-cul u al and egional analysis, enabling he
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7392
iden i ica ion o bo h uni e sal and speci ic ope a ional isk pa e ns. This SLR is expec ed o p o ide ele an policy
ecommenda ions o egula o s, isk manage s, and banking indus y p ac i ione s. O e all, his SLR is expec ed o se e as a
ounda ion o he de elopmen o mo e inno a i e and ele an ope a ional isk managemen li e a u e and p ac ices in he
u u e.
To add ess he esea ch gaps and esea ch ques ions, a Sys ema ic Li e a u e Re iew (SLR) me hod was used using he
Scopus da abase, chosen o i s b oad co e age and in e na ional epu a ion. Selec ion c i e ia included pee - e iewed a icles,
publica ions wi hin he las 10 yea s, and a ocus on ope a ional isk in banking. The SLR p ocess in ol ed sys ema ically iden i ying,
sc eening, and syn hesizing li e a u e o p oduce ele an and comp ehensi e indings.
Bank ope a ional isk has become a majo challenge in he global banking indus y, pa icula ly in he con ex o inc easing
business complexi y and dynamic egula o y changes. This isk encompasses in e nal p ocess ailu es, human e o , echnological
sys em ailu es, and ex e nal e en s ha can lead o signi ican inancial losses and impac he s abili y o he inancial sys em as
a whole (Che nobai e al., 2021; Elame e al., 2020). Among hese ou majo hemes and sub- hemes, which a e he mos
dominan causes o ope a ional isk, and how ope a ional isk in speci ic sec o s a ec s global banks.
LITERATURE REVIEW
De ini ion and His o ical De elopmen
Ope a ional isk, b oadly de ined as he isk o loss esul ing om in e nal p ocess ailu es, human e o , inadequa e o ailed
sys ems and echnology, o ex e nal e en s, has g own signi ican ly as a ocus a ea in inance and o ganiza ional s udies. Ini ially,
ope a ional isk was iewed as a esidual ca ego y encompassing isks no classi ied as ma ke o c edi isk (Han e al., 2015).
Howe e , i s concep ualiza ion has expanded o include mo e speci ic dimensions such as in e nal aud, echnology ailu es, and
ex e nal dis up ions, pa icula ly in he con ex o inancial ins i u ions (Sie al., 2021; Galle a e al., 2023). His o ically, he Basel
Acco ds played a signi ican ole in shaping he ope a ional isk discou se by in oducing a s anda dized measu emen amewo k
and capi al equi emen s, emphasizing he need o obus isk managemen p ac ices (Xu e al., 2019). The ise o digi aliza ion
and inancial de egula ion has u he complica ed he ope a ional isk landscape, highligh ing he in e play be ween
echnological inno a ion and isk exposu e (Hu e al., 2024; Yin e al., 2024). Recen s udies ha e also explo ed he ole o
go e nance s uc u es, such as he Sha iah Supe iso y Boa d in Islamic banking, in mi iga ing ope a ional isk, unde sco ing he
impo ance o cul u al and ins i u ional con ex (Elame e al., 2020). Fu he mo e, in e disciplina y app oaches, including
Bayesian ne wo ks and sys em dynamics, ha e eme ged as ools o causal analysis and isk modeling, o e ing deepe insigh s
in o he p obabilis ic na u e o ope a ional isk e en s (Co nwell e al., 2023; Ji a ichai & Banomyong, 2022). As ope a ional isk
con inues o e ol e, i s in e sec ion wi h eme ging hemes such as cybe secu i y, ESG (En i onmen al, Social, and Go e nance),
and supply chain inance unde sco es i s ele ance ac oss indus ies and geog aphies (B uno e al., 2025; Xie e al., 2025). This
concep ual e olu ion e lec s a shi om eac i e isk managemen o p oac i e, da a-d i en s a egies, shaping bo h academic
inqui y and p ac ical isk go e nance.
His o y o Resea ch Topics
The esea ch opic o ope a ional isk in banking has unde gone signi ican de elopmen o e ime, wi h a ious miles ones
de e mining he di ec ion and ocus o esea ch. Ini ially, esea ch in his a ea ocused la gely on he measu emen and
quan i ica ion o ope a ional isk, such as ha conduc ed by Han e al. (2015), who used he Peaks O e Th eshold (POT) model
o measu e ope a ional isk in Chinese comme cial banks. Along wi h changes in egula ions and he business en i onmen ,
esea ch has e ol ed o include ac o s in luencing ope a ional isk, such as inancial de egula ion, s udied by Si e al. (2021) in
he con ex o bank lending a e libe aliza ion in China. Fu he mo e, he eme gence o new echnologies and digi aliza ion ha e
also become he ocus o ecen esea ch, such as ha in es iga ed by Yin e al. (2024), who explo ed he impac o digi aliza ion
on ope a ional isk om an o ganiza ional in o ma ion p ocessing pe spec i e. Ano he impo an miles one is he in eg a ion o
En i onmen al, Social, and Go e nance (ESG) ac o s in o ope a ional isk managemen , as s udied by Galle a e al. (2023), who
ound ha highe ESG sco es can educe bank ope a ional isk. Resea ch is also inc easingly ocusing on egional and sec o al
con ex s, such as he s udy by Elame e al. (2020) ha examined he in luence o Sha ia Supe iso y Boa ds on ope a ional isk
disclosu e in Islamic banks in he MENA egion. Thus, ope a ional isk esea ch con inues o e ol e, e lec ing he dynamics o he
changing business and egula o y en i onmen , as well as he need o a mo e holis ic and in eg a ed app oach o isk
managemen .
Classical App oach and Theo y
The classical concep o ope a ional isk managemen ocuses on iden i ying, measu ing, and mi iga ing isks a ising om
ailu es in in e nal p ocesses, human esou ces, in o ma ion echnology sys ems, and ex e nal ac o s (Che nobai e al., 2021;
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7393
McNul y e al., 2017). This app oach is p ima ily used in he banking sec o , whe e ope a ional isks a e o en ela ed o in e nal
aud, echnology ailu es, and compliance inciden s (Han e al., 2015; Si e al., 2021). One o he main s eng hs o his classical
concep is he abili y o quan i a i ely measu e isk using models such as Peaks O e Th eshold (POT) and Loss Dis ibu ion
App oach (LDA), which help banks es ima e po en ial losses and es ablish adequa e capi al ese es (Xu e al., 2019). Fu he mo e,
he classical app oach also emphasizes he impo ance o e ec i e in e nal con ols and go e nance o mi iga e ope a ional isk
e en s (Nei a & Ja boui, 2018). Howe e , his classical app oach also has se e al challenges. Fi s , he limi ed a ailabili y o
comp ehensi e da a is o en a ba ie , as many ope a ional isk e en s a e no publicly epo ed o a e conside ed mino losses
(Han e al., 2015). Second, classical isk measu emen models o en assume independence be ween di e en ypes o isks, which
may no e lec he eali y whe e isks can be in e ela ed (Xu e al., 2019). Thi d, his app oach pays li le a en ion o con ex ual
ac o s such as o ganiza ional cul u e and ex e nal en i onmen al dynamics, which can in luence he implemen a ion o
ope a ional isk managemen (Ki ikkaleli e al., 2020). These sho comings highligh he need o in eg a e classical app oaches
wi h mo e holis ic, da a-d i en me hods o imp o e he e ec i eness o ope a ional isk managemen in he u u e (Co nwell e
al., 2023).
Eme ging T ends and New App oaches
In ecen yea s, esea ch on ope a ional isk managemen in he banking sec o has shown a g owing end, wi h inno a i e
new app oaches eme ging. One p ominen app oach is he use o da a- and echnology-d i en me hods o iden i y causal ac o s
o ope a ional isk. Fo example, Co nwell e al. (2023) p oposed he use o Bayesian ne wo ks o objec i ely and in eal- ime
analyze causal ac o s o ope a ional isk, enabling mo e p oac i e and e icien isk managemen . This app oach p o ides in-dep h
insigh s in o how causal ac o s in luence he p obabili y o ope a ional isk e en s, hus enabling mo e in o med esou ce
alloca ion. Fu he mo e, esea ch is inc easingly ocusing on he in eg a ion o en i onmen al, social, and go e nance (ESG)
ac o s in o ope a ional isk managemen . Galle a e al. (2023) ound ha highe ESG sco es co ela ed wi h lowe ope a ional
isk in global banks, sugges ing ha sound ESG p ac ices can be an e ec i e ool o mi iga ing ope a ional isk. These indings
align wi h esea ch by B uno e al. (2025) which explo ed he ela ionship be ween cybe secu i y policies, ESG, and ope a ional
isk, and hei impac on bank pe o mance in No h Ame ica. Digi aliza ion has also become a majo ocus o ecen esea ch,
wi h s udies sugges ing ha digi al ans o ma ion can pose new challenges in ope a ional isk managemen . Xu e al. (2019) ound
ha echnological inno a ion inc eases ope a ional isk in Chinese comme cial banks, p ima ily due o echnological complexi y
ha leads o echnical mal unc ions. Howe e , Yin e al. (2024) showed ha digi aliza ion can mi iga e ope a ional isk by
imp o ing he quali y o in e nal con ol sys ems and he cen ali y o supply chain ne wo ks. These indings unde sco e he
impo ance o a holis ic app oach o managing ope a ional isks a ising om digi aliza ion. Resea ch also inc easingly ecognizes
he impo ance o co po a e go e nance and o e sigh s uc u es in mi iga ing ope a ional isk. Nei a and Ja boui (2018) ound
ha Sha ia supe iso y boa ds and co po a e go e nance s uc u es signi ican ly in luence ope a ional isk disclosu e in Islamic
banks in he MENA egion. Fu he mo e, esea ch by Lubu ic (2017) emphasized he impo ance o s eng hening he " h ee lines
o de ense" model in ope a ional isk managemen in cen al banks, ocusing on in eg a ing quali y managemen p inciples o
imp o e e iciency. Fu he mo e, mul i-pe iod app oaches and supply chain-based isk analysis a e also gaining a en ion. Mizgie
and Wimme (2017) de eloped an ope a ional isk model ha includes single and double losses in a mul i-pe iod pe spec i e,
showing ha ope a ional isk is o en unde es ima ed i e en s ha cause double losses a e no aken in o accoun .Meanwhile,
Xie e al. (2025) in oduced an ope a ional isk assessmen ool o supply chain inance (SCF) in Chinese comme cial banks,
emphasizing he impo ance o unde s anding aud and compliance isks as key sou ces o ope a ional isk in SCF. O e all, ecen
esea ch ends indica e an inc easing use o da a-d i en me hods, he in eg a ion o ESG ac o s, a ocus on digi aliza ion, and an
emphasis on co po a e go e nance and a mul i-pe iod app oach o ope a ional isk managemen . These app oaches no only
p o ide new insigh s bu also o e mo e e ec i e ools o managing ope a ional isk in he banking sec o . This unde sco es he
impo ance o u he esea ch o con inuously de elop inno a i e me hods and expand he scope o analysis in di e en con ex s.
Eme ging T ends in In e disciplina y Connec ions
The esea ch landscape ela ed o ope a ional isk managemen in he banking sec o is cu en ly e ol ing, wi h new ends,
inno a i e me hods, and in e disciplina y app oaches en iching unde s anding and p ac ice in his ield. One p ominen end is
he in eg a ion o digi al echnology in o ope a ional isk managemen . Resea ch by Yin e al. (2024) shows ha digi aliza ion can
educe ope a ional isk by imp o ing he quali y o in e nal con ol sys ems and he cen ali y o supply chain ne wo ks. Howe e ,
digi aliza ion also p esen s new challenges, such as complex echnological isks and ulne abili y o cybe secu i y b eaches, which
need o be add essed h ough s onge policies (Hu e al., 2024). Fu he mo e, da a-d i en app oaches a e gaining popula i y in
ope a ional isk esea ch. Co nwell e al. (2023) used da a-d i en causal ac o analysis o imp o e he e ec i eness o ope a ional
isk managemen . This app oach enables inancial ins i u ions o mo e accu a ely model he p obabili y o ope a ional isk e en s
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7394
and alloca e esou ces e icien ly. Fu he mo e, esea ch by Xie e al. (2025) de eloped an ope a ional isk assessmen ool o
comme cial supply chain inance using Mon e Ca lo simula ion and loss dis ibu ion analysis, demons a ing signi ican po en ial
o mo e comp ehensi e isk managemen . The ela ionship be ween en i onmen al, social, and go e nance (ESG) ac o s and
ope a ional isk is also gaining inc easing a en ion. Galle a e al. (2023) ound ha highe ESG sco es can educe banks'
ope a ional isk globally, emphasizing he impo ance o in eg a ing ESG p inciples in o isk managemen s a egies. This app oach
is inc easingly ele an in he con ex o inc easingly s ingen egula ions and s akeholde demands o sus ainable business
p ac ices. New challenges a e also eme ging in he con ex o global unce ain y, such as he COVID-19 pandemic and he wa in
Uk aine, which a e o cing banks o e-e alua e hei ope a ional isk managemen s a egies. Sobano a and Kudinska (2024)
iden i ied he need o s onge business con inui y planning and mo e e ec i e emo e wo k policies o mi iga e ope a ional isk
du ing pe iods o ins abili y. This highligh s he impo ance o quickly adap ing o changing business en i onmen s. O e all, ecen
esea ch emphasizes he impo ance o echnology in eg a ion, da a-d i en app oaches, ESG p inciples, and adap ing o global
unce ain y in shaping he ope a ional isk managemen landscape in he banking sec o . An in e disciplina y app oach and c oss-
sec o collabo a ion a e also key o de eloping mo e holis ic and sus ainable solu ions o add ess inc easingly complex ope a ional
isk challenges.
Eme ging T ends: A Compa a i e Analysis
A compa a i e analysis o classical and eme ging app oaches o ope a ional isk managemen e eals signi ican shi s in
me hods and e ec i eness. Classical app oaches, which o en ely on adi ional s a is ical analyses such as Mon e Ca lo
simula ions and Peaks O e Th eshold (POT) models, ha e p o ided a s ong ounda ion o measu ing ope a ional isk. Fo
example, Han e al.'s (2015) s udy used he POT model o measu e ope a ional isk in Chinese comme cial banks, demons a ing
success in iden i ying in e nal aud ends. Howe e , his app oach has limi a ions, such as po en ial unde epo ing and eliance
on publicly a ailable da a (Han e al., 2015). On he o he hand, eme ging app oaches a e beginning o le e age digi al
echnologies and mo e dynamic me hodologies. Fo example, Yin e al.'s (2024) s udy explo ed he impac o digi aliza ion on
ope a ional isk using boo s apping and ex analysis, inding ha digi aliza ion educed ope a ional isk by imp o ing he quali y
o in e nal con ol sys ems (Yin e al., 2024). This app oach is no only mo e adap able o echnological changes bu also allows
o a mo e in-dep h analysis o he ac o s in luencing ope a ional isk. Fu he mo e, Co nwell e al.'s s udy also ound ha
digi aliza ion educes ope a ional isk h ough imp o ed in e nal con ol sys ems. (2023) in oduced a Bayesian ne wo k model
o eal- ime analysis o ope a ional isk d i e s, o e ing a mo e p ecise and p oac i e ool in isk managemen (Co nwell e al.,
2023). The e ec i eness o his eme ging app oach is e iden in i s abili y o mo e comp ehensi ely in eg a e ope a ional and
inciden da a and p o ide deepe insigh s in o he d i e s o ope a ional isk. Howe e , his app oach also aces challenges, such
as limi ed da a a ailabili y and he need o u he alida ion in di e en con ex s (Co nwell e al., 2023). O e all, he shi om
classical o eme ging app oaches e lec s he need o mo e lexible and adap i e me hods o add ess he complexi y o
ope a ional isk in he digi al age.
Eme ging T ends: The In luence o Rela ed Fields
Resea ch on ope a ional isk managemen in he banking sec o shows ha a ious ac o s, such as co po a e go e nance,
echnological inno a ion, and inancial de egula ion, ha e a signi ican in luence on ope a ional isk managemen . Fo example, a
s udy by Han e al. (2015) ound ha in e nal aud was he p ima y cause o ope a ional isk in Chinese comme cial banks, wi h
o e con idence and loss a e sion as he d i ing ac o s. This inding indica es he impo ance o unde s anding he speci ic
cha ac e is ics o ope a ional isk in local con ex s. Fu he mo e, Si e al. (2021) examined he impac o inancial de egula ion on
he ope a ional isk o ene gy companies in China, showing ha de egula ion can educe ope a ional isk by acili a ing inancing
and educing co po a e inancializa ion. This s udy con i ms ha mac oeconomic policies can subs an ially in luence ope a ional
isk managemen . The in luence o echnological inno a ion has also been a key ocus in se e al s udies. Fo example, Hu e al.
(2024) ound ha echnological inno a ion inc eases ope a ional isk in Chinese comme cial banks due o echnological complexi y
ha leads o echnical ailu es. This s udy sugges s ha while echnology can imp o e e iciency, i can also in oduce new isks
ha need o be ca e ully managed. On he o he hand, Bai e al. (2024) examined he ole o blockchain echnology in mi iga ing
ope a ional and supply isks du ing he COVID-19 pandemic. They ound ha blockchain-enabled companies expe ienced smalle
s ock p ice declines han o he companies, sugges ing ha blockchain can se e as an e ec i e isk mi iga ion ool. This inding
unde sco es he po en ial o new echnologies in managing ope a ional isk, especially in c isis con ex s. Fu he mo e, co po a e
go e nance was also iden i ied as a c i ical ac o in ope a ional isk managemen . Nei a and Ja boui (2018) examined he
ela ionship be ween co po a e go e nance and olun a y ope a ional isk disclosu e in Islamic banks in he Middle Eas . They
ound ha he Sha ia supe iso y boa d and boa d independence signi ican ly in luenced ope a ional isk disclosu e. This s udy
unde sco es he impo ance o a s ong go e nance s uc u e in enhancing he anspa ency o ope a ional isk managemen .
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7395
Fu he mo e, B uno e al. (2025) examined he ela ionship be ween cybe secu i y policies, ESG, and ope a ional isk in No h
Ame ican banks. They ound ha s ong cybe secu i y policies and high ESG sco es posi i ely impac ed banks' inancial
pe o mance, sugges ing ha a holis ic app oach o isk managemen can lead o be e pe o mance. O e all, hese s udies show
ha ope a ional isk managemen is in luenced by a ious ac o s, including mac oeconomic policies, echnological
inno a ion,and co po a e go e nance. These indings p o ide impo an insigh s o p ac i ione s and policymake s o de elop
mo e e ec i e and holis ic isk managemen s a egies.
METHODOLOGY
S udy Design and Re iew
Sys ema ic Li e a u e Re iew (SLR) Me hod Following PRISMA Guidelines.
This s udy used a Sys ema ic Li e a u e Re iew (SLR) app oach ha ollows he P e e ed Repo ing I ems o Sys ema ic Re iews
and Me a-Analyses (PRISMA) guidelines. PRISMA was chosen because his s anda d has been widely ecognized o imp o ing he
quali y o epo ing and sys ema ic e iew me hodology and is used ac oss a ious disciplines.(Page e al., 2021; Wina no e al.,
2023). Applica ions usedWa ase Uake: Resea ch Collabo a ion Tools, e ie ed omh ps://www.wa ase.web.id Wahyudi
(2024).This me hod is designed o p oduce a comp ehensi e and anspa en e iew wi h a p ima y ocus on he iden i ica ion o
inclusion s ages o a icles.
1. Iden i ica ion S age: A icle Sea ch P ocess a. Da abase Selec ion. The Scopus da abase was chosen as he p ima y sou ce o
a icle sea ches due o i s supe io i y in p o iding high-quali y scien i ic a icles h ough a igo ous indexing p ocess. Scopus
also o e s ex ensi e co e age and high ele ance in he scien i ic li e a u e, hus minimizing he isk o including a icles
om p eda o y jou nals o less alid sou ces. When compa ing Scopus wi h al e na i es such as Google Schola , he
weaknesses o Google Schola we e a p ima y conside a ion, including epe i i e sea ch esul s, duplica ion o a icles om
a ious sou ces, and inclusion o a icles om p eda o y jou nals (Ha iningsih e al., 2024). The e o e, Scopus was conside ed
mo e adequa e o ensu e he alidi y and ele ance o he esul ing a icles. b. Keywo ds and Sea ch S a egy. The a icle
sea ch p ocess begins by de e mining speci ic keywo ds ele an o he esea ch opic, such as "bank ope a ional isk." These
keywo ds a e used in a sea ch o he Scopus da abase o iden i y a icles ela ed o ope a ional isk in he banking indus y.
The sea ch was conduc ed using Boolean syn ax (AND/OR) o ensu e b oad co e age while emaining ocused on he
esea ch opic. In addi ion, he sea ch p ocess also in ol ed he Wa ase da abase (Wahyudi, 2024) o ob ain addi ional
a icles ha may no be co e ed by Scopus. This s age ensu ed ha he s udy encompassed comp ehensi e li e a u e
sou ces.
2. Sc eening S age: Selec ion and Fil e ing o A icles
a. Ini ial Sea ch and Duplica ion Remo al. The ini ial sea ch in Scopus yielded 122 a icles. P io o he sc eening p ocess,
a icles deemed duplica e o no mee ing he ini ial c i e ia we e emo ed. In his s udy, no a icles we e emo ed due
o duplica ion, bu 32 a icles we e emo ed because hey we e ma ked as ineligible by he au oma ed ool, and 12
a icles we e emo ed o o he easons, such as no mee ing he jou nal's ie c i e ia.
b. Sc eening Based on Abs ac and Rele ance. The emaining a icles (78) we e hen sc eened based on he abs ac o assess
hei ele ance o he esea ch opic. F om his p ocess, 25 a icles we e excluded because hey did no mee he inclusion
c i e ia. A icles ha passed he sc eening (53) we e hen sea ched o comple e e ie al, bu 28 a icles could no be
ob ained. To add ess his, addi ional sea ches we e conduc ed om o he sou ces, esul ing in 15 addi ional a icles.
c. Feasibili y Assessmen . The success ully e ie ed a icles (25) we e ho oughly assessed o hei easibili y, and no a icles
we e excluded a his s age. In addi ion, 15 a icles om o he sou ces we e also assessed and deemed o mee he
c i e ia. The comple e PRISMA epo esul s a e p esen ed in Figu e 1.
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7396
Figu e 1. PRISMA Repo Resul s
3. Inclusion S age: A icle Analysis and Re iew
a. A icles Included in he Re iew A o al o 40 a icles (25 om Scopus and 15 om o he sou ces) we e included in he
sys ema ic e iew. O he 40 a icles, only 38 we e eligible o ex ac ion because 2 a icles we e ound o be duplica es. These
a icles me he inclusion c i e ia and we e ele an o he esea ch opic. b. Quali a i e and Thema ic Analysis. A e he
inclusion s age, a quali a i e analysis was conduc ed using hema ic analysis me hods. This p ocess in ol es iden i ying
pa e ns, hemes, and sub- hemes wi hin ele an a icles, which is also suppo ed by he Wa ase Uake Sys em (Wahyudi,
2024). Thema ic analysis ensu es ha he indings o his s udy a e p esen ed sys ema ically and comp ehensi ely. Conclusion
The SLR me hod used in his s udy ollows he PRISMA guidelines o ensu e anspa ency, alidi y, and ele ance h oughou
he p ocess o a icle iden i ica ion and inclusion. The use o Scopus as he p ima y da abase, along wi h speci ic keywo ds and
hema ic analysis me hods, ensu es ha his e iew p oduces high-quali y indings ha can be applied in a ious c oss-
disciplina y esea ch con ex s.
RESULTS AND DISCUSSION
Wo d Cloud F om A icle Keywo ds
Keywo d analysis shows ha he dominan heme in bank ope a ional isk esea ch is Ope a ional Risk, wi h 57 occu ences,
ollowed by B anchless Banking (16) and Risk Managemen (11), as p esen ed in Figu e 2.
Figu e 2. Cloud o F equen ly Appea ing Keywo ds
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7397
This heme e lec s a ocus on iden i ying, mi iga ing, and managing ope a ional isk in he banking indus y, pa icula ly
wi h he inc easing adop ion o digi al echnologies such as b anchless banking and mobile money. Sub hemes such as Ope a ional
Risk Managemen , Co po a e Go e nance, and Basel II demons a e a s ong in eg a ion o isk managemen p ac ices, egula ion,
and go e nance. Regional ends a e e iden wi h keywo ds such as Indonesia, Ghana, India, and Malaysia, indica ing inc easing
a en ion o ope a ional isk in eme ging ma ke s, pa icula ly in he con ex o inancial inclusion and digi al ans o ma ion. This
e lec s he unique challenges in hese egions, including in as uc u e, egula ion, and echnology adap a ion. These hemes a e
in e connec ed h ough he in luence o echnology, egula ion, and inancial inno a ion on ope a ional isk. Cu en global
esea ch ocuses on de eloping isk managemen amewo ks ha a e adap i e o echnological and economic changes. Going
o wa d, esea ch should u he explo e he impac o a i icial in elligence, in ech, and he pandemic on ope a ional isk, and
c ea e sus ainable solu ions o he global banking indus y.
Geog aphic Dis ibu ion S udy
Analysis o he geog aphic loca ion o esea ch and ci a ions in he con ex o bank ope a ional isk shows ha he majo i y
o esea ch is conduc ed in de eloping coun ies, especially in Asia and he Middle Eas , wi h China as he mos dominan loca ion.
Figu e 3. Coun y S udy
O he s udies analyzed, a leas 12 we e conduc ed in China, indica ing a s ong ocus on ope a ional isk in he coun y's
banking sec o (Han e al., 2015; Si e al., 2021; Yin e al., 2024). Besides China, de eloping coun ies such as India, he Gul
Coope a ion Council (GCC) coun ies, and se e al ASEAN coun ies ha e also been signi ican esea ch des ina ions (Nei a &
Ja boui, 2018; Tandon & Meh a, 2017). Meanwhile, de eloped coun ies such as he Uni ed S a es, he Uni ed Kingdom, and
Aus alia ha e also con ibu ed o his esea ch, al hough hei numbe s a e smalle han hose in de eloping coun ies (McNul y
e al., 2017; Co nwell e al., 2023). The dis ibu ion o ci a ions shows ha esea ch conduc ed in de eloping coun ies, pa icula ly
China, has a ela i ely high ci a ion a e. Fo example, s udies by Han e al. (2015) and Si e al. (2021) we e ci ed 11 and 87 imes,
espec i ely, demons a ing he ele ance o hei indings in he con ex o bank ope a ional isk. This may be due o he
complexi y o he Chinese banking sys em, which aces unique challenges ela ed o in e nal aud and inancial egula ion (Han
e al., 2015). Fu he mo e, esea ch in de eloping coun ies has also ecei ed signi ican a en ion due o he signi ican impac o
ope a ional isk on inancial s abili y in he con ex o eme ging economies (Elame e al., 2020). The implica ion o his end is
ha bank ope a ional isk is a c i ical issue in de eloping coun ies, especially hose unde going apid economic and inancial
egula o y ans o ma ion. The inc ease in esea ch in his egion e lec s he need o unde s and and manage ope a ional isk in
local con ex s ha o en ha e di e en cha ac e is ics om de eloped coun ies (Nei a & Ja boui, 2018). Fu he mo e, he ocus
on echnology and digi aliza ion in ope a ional isk managemen , as in es iga ed by Hu e al. (2024), sugges s ha echnological
change is a c ucial ac o in mi iga ing ope a ional isk in he mode n e a. O e all, he heme o bank ope a ional isk emains
ele an in add essing u u e esea ch challenges and oppo uni ies, pa icula ly in he con ex o globaliza ion and digi al
ans o ma ion. Fu u e esea ch should expand he geog aphic scope, including mo e de eloping coun ies in A ica and La in
Ame ica, and in eg a e ope a ional isk analysis wi h en i onmen al, social, and go e nance (ESG) aspec s o c ea e a mo e holis ic
app oach (Galle a e al., 2023). The e o e, his heme will con inue o be an impo an esea ch a ea in unde s anding and
managing isk in he global banking indus y.
Resea ch A ea Con ex
An analysis o he esea ch con ex and ci a ions wi hin he ield o bank ope a ional isk e eals se e al in e es ing ends
and pa e ns. Mos esea ch is concen a ed in Asia, pa icula ly China, wi h 11 s udies o igina ing om ha coun y (Han e al.,
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7398
2015; Si e al., 2021; Hu e al., 2024; Yin e al., 2024; Xu e al., 2019; Wang e al., 2020; Bai e al., 2024; Xie e al., 2025). This
sugges s ha China is a hub o bank ope a ional isk esea ch, likely due o he dynamics o i s apidly e ol ing banking indus y
and he inc easing complexi y o ope a ional isk in he coun y. Fu he mo e, esea ch in he MENA egion (Middle Eas and
No h A ica) is also signi ican , wi h a ocus on Islamic banks and he in luence o go e nance s uc u es on ope a ional isk
disclosu e (Elame e al., 2020; Nei a and Ja boui, 2018). The dis ibu ion o ci a ions shows conside able a ia ion, wi h some
s udies ecei ing high ci a ions, such as Si e al. (2021) wi h 87 ci a ions and Elame e al. (2020) wi h 89 ci a ions. This indica es
ha opics such as inancial de egula ion and he in luence o go e nance on ope a ional isk disclosu e a e ecei ing widesp ead
a en ion in academia. Howe e , some mo e ecen s udies, such as Sobano a and Kudinska (2024), ha e no ye ecei ed
ci a ions, possibly because hey a e ela i ely new and no widely accessible o he esea ch communi y. The implica ion o his
con ex ual end is ha bank ope a ional isk is inc easingly ecognized as a key challenge in he global banking indus y,
pa icula ly in he con ex o digi aliza ion and echnological ans o ma ion (Uddin e al., 2023; Hu e al., 2024). These s udies
indica e ha echnological inno a ion, while b inging e iciency, also inc eases ope a ional isk h ough echnical ailu es and
sys em complexi y (Hu e al., 2024). Fu he mo e, he impo ance o ESG (En i onmen al, Social, and Go e nance) in mi iga ing
ope a ional isk is also a key ocus, as demons a ed by Galle a e al. (2023). This heme is highly ele an o u u e esea ch
challenges and oppo uni ies. Wi h inc easing digi aliza ion and ope a ional complexi y in he banking sec o , esea ch on
ope a ional isk will con inue o be ele an . Challenges such as cybe secu i y, echnology-based isk managemen , and ESG
in eg a ion in o banking p ac ices will be c i ical esea ch a eas. Fu he mo e, c oss-coun y and egional esea ch needs o be
enhanced o unde s and he a ying con ex s and policies ha in luence ope a ional isk ac oss egions (Elame e al., 2020; Pin o
and Ma ques, 2024). Thus, his heme is ele an no only o academics bu also o p ac i ione s in he banking indus y who ace
inc easingly complex ope a ional challenges.
Resea ch Focus
The s udy analysis shows ha he ocus o ope a ional isk esea ch in banks co e s a ious aspec s, anging om isk
measu emen and isk managemen o he impac o digi aliza ion and echnological inno a ion. These s udies we e conduc ed
in a ious coun ies, pa icula ly China, he Uni ed S a es, and coun ies in he MENA egion and he Eu opean Union,
demons a ing ha ope a ional isk is a global issue ha equi es c oss- egional a en ion (Han e al., 2015; Si e al., 2021; Galle a
e al., 2023). The dis ibu ion o ci a ions indica es ha some s udies ha e had a signi ican in luence in he academic li e a u e,
such as Han e al. (2015) wi h 11 ci a ions and Elame e al. (2020) wi h 89 ci a ions. Howe e , he e a e also less widely ci ed
s udies, such as Sobano a and Kudinska (2024), which ha e no ci a ions, possibly due o hei no el y o lack o emphasis on he
global con ex . Resea ch ends indica e ha ope a ional isk is inc easingly in luenced by ac o s such as digi aliza ion,
echnological inno a ion, and egula o y changes. Fo example, Hu e al. (2024) ound ha echnological inno a ion inc eases
ope a ional isk due o echnical ailu es, while Yin e al. (2024) showed ha digi aliza ion can educe ope a ional isk by imp o ing
he quali y o in e nal con ol sys ems. These s udies unde sco e he impo ance o banks adap ing o digi al ans o ma ion and
echnological inno a ion o e ec i ely manage ope a ional isk. Fu he mo e, he e is signi ican a en ion paid o ope a ional isk
disclosu e and i s ela ionship o co po a e go e nance, as demons a ed by Nei a and Ja boui (2018) and Elame e al. (2020),
who ound ha go e nance s uc u e in luences he le el o ope a ional isk disclosu e. The implica ion o his end is he need
o a mo e holis ic app oach o ope a ional isk managemen , including he in eg a ion o ESG (En i onmen al, Social, and
Go e nance) ac o s, as no ed by Galle a e al. (2023). Fu he mo e, i is impo an o de elop mo e accu a e me hodologies o
measu ing ope a ional isk, such as ha p oposed by Xie e al. (2025) using a loss dis ibu ion analysis app oach. This heme is
highly ele an o u u e esea ch challenges and oppo uni ies, pa icula ly in he con ex o digi al ans o ma ion, egula o y
changes, and inc easing isk complexi y. Fu u e esea ch could ocus on de eloping mo e adap i e and inno a i e isk
managemen models, as well as analyzing he impac o pandemics and global c ises on ope a ional isk in banks, as p oposed by
Sobano a and Kudinska (2024). Thus, his heme will emain ele an in add essing he challenges and oppo uni ies in ope a ional
isk esea ch in he banking sec o .
Publica ion Yea T ends
An analysis o esea ch publica ion ends on bank ope a ional isk e eals in e es ing a ia ions in he numbe o publica ions
and ci a ions om yea o yea . In 2017, he numbe o publica ions peaked wi h se en a icles, co e ing di e se geog aphic
con ex s such as Mon eneg o, India, he Uni ed S a es, and he Uni ed Kingdom (Li e al., 2017; Schenk, 2017; Mizgie & Wimme ,
2017), as shown in Figu e 4.
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7405
No
Technology Sys em
Amoun
Au ho s
2
Cybe A ack
8
Schenk, 2017; ; Ji a ichai and Banomyong, 2022; ; Galle a e al., 2023; ; B uno e al.,
2025; Xie e al., 2025
3
Use o Technology by
Unau ho ized Pe sons
6
Lubu ic, 2017; Mihaela e al., 2019; Si e al., 2021; Che nobai e al., 2021; ;
4
Ha dwa e Failu e and
Una ailabili y
2
Xu e al., 2019
5
Secu i y Agains Hacking
1
Jiang, 2017
Table 8: Coun ies Whe e Ope a ional Risks Occu Due o Technology Sys em Failu e
No
Sys ems and Technology
Amoun
Coun y
1
Ope a ional E o s Rela ed o
he Abili y o Use Technology
21
Aus alia, ASEAN coun ies, Aus alia, China, Ghana,
Gul Coope a ion Council coun ies, India, Jo dan,
La ia, MENA Region, No he n Cyp us, Saudi A abia,
Saudi A abia, Bah ain, Jo dan, Kuwai , Qa a , UAE,,
Sou h A ica, US and EU, USA
2
Cybe A ack
8
USA , China, Eu opean Union , Global, Global (da a
om 43 coun ies), No h Ame ica, Thailand, Uni ed
Kingdom
3
Use o Technology by
Unau ho ized Pe sons
6
China, Mon eneg o, Romania, USA
4
Ha dwa e Failu e and
Una ailabili y
1
China
5
Secu i y Agains Hacking
1
USA
Table 9: Theo ies Used o Analyze Ope a ional Risks Due o Sys em and Technology Failu es
No
Sys ems and Technology
Amoun
Theo y
1
Ope a ional E o s Rela ed
o he Abili y o Use
Technology Sys ems
21
NA Agency Theo yAgency Theo y, Signaling Theo y, Legi imacy Theo y, Resou ce
Dependence Theo yComplex Adap i e Sys ems (CAS)Con ingency heo y, C isis
managemen heo y, Sys em heo y, Agency heo yEx eme Value Theo y
(EVT)Ins i u ional heo yLemon Theo yNAO ganiza ional change heo yResou ce
Based ViewT ade-o heo y and pecking o de heo y
2
Cybe A ack
8
NA Ra ional Expec a ions Hypo hesis G ay's heo e ical amewo k linking Ho s ede's
cul u al dimensions o disclosu e. NASys ems Thinking (Gene al Sys ems Theo y) The
s udy is unde pinned by classical asymme ic in o ma ion heo y (Ake lo , 1970; Be gh
e al., 2019) and connec s o he classical heo y o in o ma ion asymme y. I also
e e s o he body o li e a u e on social sciences and economics including social
sciences
3
Use o Technology by
Unau ho ized Pe sons
6
Dynamic capabili y heo y (and esou ce-based iew) Financial ep ession heo y and
inancial deepening heo y G and Theo y: NA O ganiza ional In o ma ion P ocessing
Theo y Syne gis ic e ec s o quali y managemen p inciples, isk managemen
p inciples, and o al quali y managemen app oach The s udy is g ounded in egula o y
amewo ks de ining ope a ional isk and inancial ins i u ion complexi y, aligning wi h
Basel Acco ds and Fede al Rese e guidelines on sys emic isk and capi al
equi emen s.
4
Ha dwa e Failu e and
Una ailabili y
2
NA
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7406
No
Sys ems and Technology
Amoun
Theo y
5
Secu i y Agains Hacking
1
NA
This indica es ha ope a ional e o s ela ed o he use o sys ems o echnology a e a signi ican issue in he banking
indus y (Han e al., 2015; Xu e al., 2019; Elame e al., 2020). The ci a ion dis ibu ion o column 3 also shows ha s udies ocusing
on ope a ional e o s end o ha e high ci a ion a es, such as he s udy by Elame e al. (2020) wi h 89 ci a ions and Han e al.
(2015) wi h 11 ci a ions. This indica es ha his opic is ecei ing signi ican a en ion om he academic and p ac i ione
communi ies. The implica ion o his end is ha ope a ional isks associa ed wi h he inabili y o use sys ems o echnology a e
a signi ican challenge o banks, especially in he e a o accele a ing digi aliza ion. Resea ch by Uddin e al. (2023) shows ha
cybe a acks and ine iciencies in echnology use can inc ease banks' ulne abili y o ope a ional isk. Fu he mo e, esea ch by
Galle a e al. (2023) highligh ed he impo ance o secu ing sys ems agains hacking as a o m o ope a ional e o ha equi es
inc eased a en ion. This end is also linked o ongoing legisla i e changes, as men ioned in column ca ego y 4, which equi e
banks o be mo e adap i e in acing egula o y and echnological changes (Xu e al., 2019). This heme is highly ele an o u u e
esea ch challenges, gi en he e e -g owing digi al ans o ma ion in he banking indus y. Fu u e esea ch should ocus on
de eloping mo e secu e sys ems and mo e e ec i e human esou ce aining o educe echnology- ela ed ope a ional e o s
(Ji a ichai & Banomyong, 2022). Fu he mo e, he in eg a ion o isk managemen heo y and in o ma ion echnology needs o
be s eng hened o c ea e a mo e holis ic app oach o managing bank ope a ional isk. Thus, his heme is no only ele an o
add essing cu en challenges bu also o e s oppo uni ies o u u e inno a ion.
Theme 4. Ex e nal E en s
Ex e nal E en s: Unexpec ed legisla i e changes we e he ou h mos common heme, wi h 38 s udies (100%) used in his
s udy. This indica es ha egula o y changes a e a dominan ac o in esea ch ela ed o bank ope a ional isk. This end sugges s
ha egula o y dynamics, especially unexpec ed ones, ha e a signi ican impac on ope a ional isk managemen in he banking
sec o . S udies such as Han e al. (2015) and Elame e al. (2020) emphasize how legisla i e changes a ec in e nal isks such as
aud and ope a ional e o s, while Hu e al. (2024) link egula o y changes o echnological inno a ion and cybe isk in Chinese
comme cial banks. The dis ibu ion o ci a ions in his ca ego y a ies, wi h some s udies such as Elame e al. (2020) and Han e
al. (2015) ha ing 89 and 11 ci a ions, espec i ely, indica ing a s ong in luence in he ela ed li e a u e. Howe e , s udies such as
Sobano a and Kudinska (2024) ha e no ecei ed any ci a ions, despi e hei ele ance o global ins abili y con ex s such as he
COVID-19 pandemic and he wa in Uk aine. This a ia ion sugges s ha esea ch wi h a mo e con ex ual and speci ic app oach
has he po en ial o ecei e g ea e a en ion in he u u e, pa icula ly when linked o he dynamic global si ua ion. The
implica ion o his end is ha egula o y changes no only di ec ly impac ope a ional isk bu also impac isk managemen
s a egies, such as s eng hening in e nal con ol sys ems and adop ing echnology. Fo example, esea ch by Hu e al. (2024)
shows how Chinese banks espond o egula o y changes by inc easing echnological inno a ion o mi iga e ope a ional isk.
Fu he mo e, esea ch such as ha by Che nobai e al. (2021) links egula o y changes o he complexi y o he inancial sys em,
which equi es banks o adop a mo e holis ic app oach o isk managemen . This heme is highly ele an o u u e esea ch
challenges and oppo uni ies, pa icula ly in he con ex o he globaliza ion and digi aliza ion o he inancial sec o . Fu u e
esea ch could ocus on how global egula o y changes, such as he implemen a ion o Basel III o he de elopmen o FinTech,
impac banks' ope a ional isk ac oss egions. Fu he mo e, esea ch could also explo e banks' adap a ion s a egies in he ace
o unexpec ed egula o y changes, including he use o echnologies like blockchain and AI o enhance ope a ional esilience.
Ope a ional Risk Fac o s
Classi ying esea ch based on ope a ional isk ac o s and hei ci a ions p o ides insigh in o he mos equen ly
discussed opics in he con ex o bank ope a ional isk. This con en can be ca ego ized in o se e al key hemes:
Technology/digi aliza ion, Go e nance, F aud, and Human Fac o s. F om his con en dis ibu ion, i can be seen ha
echnology/digi aliza ion is he mos discussed opic wi h 8 s udies (Han e al., 2015; Si e al., 2021; Yin e al., 2024; Hu e al., 2024;
Che nobai e al., 2021; Uddin e al., 2023; Ji a ichai & Banomyong, 2022), ollowed by Go e nance wi h 11 s udies (Elame e al.,
2020; Pin o & Ma ques, 2024; Nei a & Ja boui, 2018; Wang e al., 2020; Nguyen & Dang, 2022; Gadzo e al., 2019; Nei a e al.,
2020; Elbad y, 2018; Sha i i e al., 2016; Tandon & Meh a, 2017; Lubu i?, 2017). The dis ibu ion o ci a ions shows ha esea ch
wi h he con en "Go e nance and Technology/Digi aliza ion" has signi ican ci a ions, such as he esea ch by Elame e al. (2020)
wi h 89 ci a ions and Si e al. (2021) wi h 87 ci a ions. The high ci a ions on his opic indica e ha go e nance and
echnology/digi aliza ion adop ion a e impo an aspec s in managing bank ope a ional isk. The implica ions o his end sugges
ha u u e esea ch needs o con inue o pay a en ion o he ole o echnology and go e nance in mi iga ing ope a ional isk.
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
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Thus, he ele ance o he heme o bank ope a ional isk o u u e esea ch challenges and oppo uni ies is e y high, especially
in he con ex o echnology adop ion and go e nance imp o emen . Fu he esea ch can ocus on de eloping mo e e ec i e
isk managemen models by le e aging echnology and imp o ing go e nance p ac ices (Uddin e al., 2023; Che nobai e al., 2021).
Thus, u u e esea ch can make a signi ican con ibu ion o imp o ing bank esilience and pe o mance amids inc easingly
complex global challenges.
Ope a ional Risk in Speci ic Sec o s
Classi ica ion based on ope a ional isk in speci ic sec o s and i s ci a ions. F om he a ailable da a, i appea s ha he mos
equen ly used con en is "The impac o digi aliza ion on co po a e ope a ional isk" and "Disclosu e o bank ope a ional isk"
wi h se e al a ia ions o ela ed opics. This con en mos equen ly appea s ela ed o "Go e nance" and
"Technology/digi aliza ion", as seen in he s udies o Elame e al. (2020), Galle a e al. (2023), and Yin e al. (2024). The
dis ibu ion o ci a ions om his con en shows ha opics ela ed o "Go e nance" and "Technology/digi aliza ion" ha e a
signi ican numbe o ci a ions, such as he s udy o Elame e al. (2020) wi h 89 ci a ions and Galle a e al. (2023) wi h 72 ci a ions.
Meanwhile, he opic o "F aud" also has qui e high ci a ions, as seen in he s udies o Han e al. (2015) and Li e al. (2017). The
implica ions o he ends p esen ed in his con en indica e ha cu en esea ch ela ed o bank ope a ional isk ocuses mo e
on he impac o echnology and digi aliza ion, as well as co po a e go e nance. This is in line wi h he de elopmen o he banking
indus y, which is inc easingly adop ing echnology and acing challenges ela ed o ope a ional isk (Uddin e al., 2023; Che nobai
e al., 2021). An e alua ion o he ele ance o hese hemes o u u e esea ch challenges and oppo uni ies indica es ha he
opic o bank ope a ional isk emains highly ele an and o e s ex ensi e esea ch oppo uni ies. Wi h inc easingly apid
echnological de elopmen s, esea ch ela ed o he impac o digi aliza ion on co po a e ope a ional isk will con inue o be an
in e es ing and ele an opic (Yin e al., 2024; Ji a ichai & Banomyong, 2022). The e o e, u u e esea ch can con inue o de elop
ela ed opics o con ibu e o he de elopmen o a be e banking indus y.
DISCUSSION
Classi ica ion Deba e
Analysis o hema ic ca ego ies ela ed o he deba e o e p e ious esea ch indings indica es he dominance o
ope a ional isk as he p ima y ocus in academic li e a u e, pa icula ly in he banking con ex . "Ope a ional isk" eme ged as he
dominan heme wi h 57 occu ences, ollowed by sub- hemes such as "Risk managemen " (11), "Ope a ional isk managemen "
(6), and "Ope a ional isk disclosu e" (3). This indica es ha ope a ional isk in he banking sec o is a c i ical issue ha equi es a
comp ehensi e and s a egic managemen app oach. This inding aligns wi h esea ch by Si e al. (2021) which iden i ied ha
inancial de egula ion and digi al ans o ma ion signi ican ly impac ope a ional isk, pa icula ly in de eloping coun ies such as
China. The pa e n o in e ela ionships be ween hese hemes indica es he e olu ion o esea ch om con en ional app oaches
o mo e echnology-d i en app oaches. Fo example, he hemes "Fin ech" (2) and "Digi al banking" (1) began o eme ge as sub-
hemes suppo ing a echnology-d i en app oach o ope a ional isk managemen . This end aligns wi h he indings o Hu e al.
(2024) which highligh ed he inc ease in ope a ional isk due o he adop ion o new echnologies such as a i icial in elligence
and blockchain in banking. This indica es ha ope a ional isk is becoming inc easingly complex wi h echnological ad ancemen s,
necessi a ing a mo e inno a i e and adap i e isk managemen app oach. This end implies he need o in eg a e ad anced
echnologies such as AI and big da a analy ics in o ope a ional isk esea ch, as sugges ed by Uddin e al. (2023). Fu he mo e,
esea ch should also conside ex e nal ac o s such as egula o y changes and cybe isks, which a e inc easingly impac ing global
inancial s abili y (Che nobai e al., 2021). Fo example, esea ch by Elame e al. (2020) shows ha egula o y changes in he
MENA egion signi ican ly impac ope a ional isk in Islamic banking, necessi a ing a mo e holis ic isk managemen app oach. This
heme is highly ele an o u u e esea ch challenges and oppo uni ies, pa icula ly in add essing he complexi ies o banking
ope a ions in he digi al e a. Fu u e esea ch should ocus on de eloping models and policies ha can imp o e he e ec i eness
o ope a ional isk managemen , as well as in eg a ing ESG (En i onmen al, Social, and Go e nance) ac o s in o isk managemen
s a egies (Galle a e al., 2023). Fu he mo e, esea ch needs o explo e he impac o inancial echnology and cybe isk on he
s abili y o he global inancial sys em, which will be a majo challenge in na iga ing he inc easingly complex dynamics o he
banking indus y (Uddin e al., 2023). Thus, he opic o bank ope a ional isk emains ele an and o e s signi ican oppo uni ies
o he de elopmen o inno a i e esea ch in he u u e.
Compa ison wi h Exis ing Li e a u e
The indings om he analysis o p e ious esea ch on bank ope a ional isk p o ide signi ican heo e ical implica ions
o exis ing models and amewo ks. Fi s , he dominance o Agency Theo y in ope a ional isk esea ch indica es ha he ocus
on he ela ionship be ween he p incipal (bank owne ) and agen (bank managemen ) emains ele an in he con ex o
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
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ope a ional isk managemen . This heo y explains how goal misalignmen be ween he wo pa ies can igge ope a ional isk,
as ound in he s udies o Elame e al. (2020) and Nei a & Ja boui (2018). Howe e , he indings also sugges ha his heo y
needs o be expanded o conside ex e nal ac o s, such as egula o y and echnological changes, which inc easingly in luence
ope a ional isk in he digi al e a. Fo example, Che nobai e al. (2021) ound ha inancial de egula ion h ough he G amm-
Leach-Bliley Ac in he US had a signi ican impac on bank ope a ional isk, an aspec no ully explained by Agency Theo y
(Che nobai e al., 2021). This sugges s ha ope a ional isk managemen models need o in eg a e ex e nal en i onmen al
in luences, including egula ion and echnology, in o hei analy ical amewo ks. Second, he use o Ex eme Value Theo y (EVT)
in s udies such as Han e al. (2015) shows ha ex eme ope a ional isks, such as in e nal aud o sys em ailu es, emain a majo
challenge in he banking indus y. EVT is use ul o p edic ing a e bu high-impac e en s, which a e o en missed by con en ional
isk models. Howe e , hese indings also indica e ha EVT models need o be upda ed o accommoda e isks a ising om new
echnologies, such as cybe isks and digi al a acks, which a e inc easingly common in he mode n banking con ex . **Uddin e
al. (2023) highligh ha cybe isk has become a majo h ea o banks, necessi a ing he in eg a ion o ad anced echnologies
such as AI and blockchain in o ope a ional isk models (Uddin e al., 2023). Thus, EVT needs o be u he de eloped o encompass
new ypes o isks a ising om digi al ans o ma ion. Thi d, he indings on he impo ance o O ganiza ional In o ma ion
P ocessing Theo y in Yin e al.'s (2024) esea ch indica e ha a bank's abili y o p ocess in o ma ion e ec i ely is key o mi iga ing
ope a ional isk. This heo y emphasizes he impo ance o sound in o ma ion sys ems in suppo ing decision-making and isk
managemen . Howe e , hese indings also indica e ha ope a ional isk managemen models need o conside inc easingly
complex aspec s o in o ma ion echnology, such as he use o big da a and p edic i e analy ics. Hu e al. (2024) ound ha
echnological inno a ion can inc ease ope a ional isk i no managed p ope ly, an aspec ha has no been ully explained by
O ganiza ional In o ma ion P ocessing Theo y (Hu e al.,2024). The e o e, his heo y needs o be expanded o encompass
in o ma ion echnology challenges in he con ex o ope a ional isk. O e all, p e ious esea ch indings indica e ha ope a ional
isk models and amewo ks need o be upda ed o accommoda e changes in he ex e nal en i onmen , such as egula ions and
echnology, as well as new isks a ising om digi al ans o ma ion. In eg a ing mul idisciplina y app oaches, such as a
combina ion o inancial, in o ma ion echnology, and legal heo ies, is c ucial in de eloping a mo e comp ehensi e ope a ional
isk model. Galle a e al. (2023) emphasize ha a holis ic app oach is needed o unde s and he complexi y o ope a ional isk in
an inc easingly dynamic global con ex (Galle a e al., 2023). Thus, u u e esea ch needs o ocus on de eloping mo e adap i e
and inno a i e models o add ess challenges and oppo uni ies in bank ope a ional isk managemen .
Theo e ical Con ibu ions
An analysis o p e ious esea ch indings on bank ope a ional isk p o ides signi ican heo e ical ecommenda ions o
academic esea che s in his ield. Fi s , he esea ch shows ha Agency Theo y and Ex eme Value Theo y (EVT) a e he dominan
heo ies in unde s anding bank ope a ional isk. Agency Theo y explains how misalignmen be ween owne ship (p incipal) and
managemen (agen ) can lead o ope a ional isk due o con lic s o in e es and weak o e sigh (Elame e al., 2020; Nei a &
Ja boui, 2018). Meanwhile, EVT is widely used o measu e ex eme isk in bank ope a ions, as in he s udy by Han e al. (2015)
which used he Peaks O e Th eshold (POT) model o quan i y ex eme ope a ional isk in Chinese comme cial banks. These wo
heo ies emphasize he impo ance o empi ical and quan i a i e app oaches in iden i ying and managing ope a ional isk.
Fu he mo e, he esea ch also shows ha O ganiza ional In o ma ion P ocessing Theo y is inc easingly ele an in he con ex o
ope a ional isk in luenced by in o ma ion echnology. This heo y was used by Yin e al. (2024) o explain how banks p ocess
in o ma ion in he ace o complex ope a ional isks, especially in he digi al e a (Yin e al., 2024). This app oach sugges s ha he
in eg a ion o in o ma ion echnology and isk managemen is key o educing ope a ional isk. This aligns wi h he indings o Hu
e al. (2024) who showed ha echnological inno a ion can inc ease ope a ional isk i no managed p ope ly. I is also impo an
o conside heo ies ela ed o ex e nal egula o y changes, such as he Financial Rep ession Theo y and he Financial Deepening
Theo y, which we e used by Si e al. (2021) o analyze he impac o in e es a e libe aliza ion on he ope a ional isk o ene gy
companies in China (Si e al., 2021). These indings indica e ha changes in economic policy and inancial egula ion ha e a
signi ican impac on bank ope a ional isk, especially in he con ex o globaliza ion and inancial ma ke in eg a ion. Theo e ical
ecommenda ions o academic esea che s include he need o de elop a mo e holis ic concep ual amewo k by in eg a ing
a ious heo ies o unde s and he complexi y o ope a ional isk in he digi al e a. Fu u e esea ch should combine quan i a i e
and quali a i e app oaches, and in eg a e ac o s such as in o ma ion echnology, egula o y changes, and inancial ma ke
dynamics. Fo example, esea ch can adop a mul idisciplina y app oach ha combines economic, echnological, and legal
pe spec i es o de elop mo e comp ehensi e isk managemen s a egies (Ande son & Whi e, 2021). Fu he mo e, esea ch
should also conside egional and global con ex s o unde s and di e ences in ope a ional isk managemen ac oss egions
(Galle a e al.,2023). O e all, he heme o bank ope a ional isk emains ele an in acing u u e challenges such as digi aliza ion,
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JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7409
egula o y changes, and inc easing cybe isk. Fu u e esea ch should ocus mo e on de eloping inno a i e models and heo ies
o add ess he complexi ies o ope a ional isk in he mode n e a (Uddin e al., 2023). Thus, his esea ch no only con ibu es o
he de elopmen o science bu also has signi ican p ac ical implica ions o he global banking indus y.
P ac ical Implica ions
Analysis o p e ious esea ch on bank ope a ional isk p o ides se e al p ac ical implica ions and ecommenda ions ha
can be implemen ed by p ac i ione s in he banking sec o . Fi s , he dominan inding ha ope a ional isk is p ima ily ela ed o
inadequa e quali y con ol and human e o unde sco es he impo ance o s eng hening in e nal con ol sys ems and
ope a ional p ocedu es wi hin banks (Han e al., 2015; Si e al., 2021). P ac i ione s need o imp o e employee aining and
o e sigh o ope a ional p ocesses o educe human e o , which can lead o inancial o epu a ional losses. Fu he mo e, he
implemen a ion o echnologies such as p ocess au oma ion and a i icial in elligence (AI) can help minimize ope a ional e o s
caused by human ac o s (Uddin e al., 2023). Second, he g owing body o esea ch add essing cybe isks and he inadequacy o
echnological sa egua ds sugges s ha banks need o inc ease in es men in cybe secu i y o add ess he challenges o
digi aliza ion (Wang e al., 2020; Galle a e al., 2023). P ac i ione s a e ad ised o adop ad anced echnologies such as blockchain
and da a enc yp ion o p o ec sys ems om cybe a acks and b eaches. Fu he mo e, collabo a ion wi h hi d pa ies wi h
cybe secu i y expe ise can be an e ec i e s a egy o s eng hening de enses agains digi al h ea s (Hu e al., 2024). Thi d, he
inding ha egula o y changes a e he dominan ex e nal ac o in luencing banks' ope a ional isk unde sco es he impo ance
o p oac i ely ollowing egula o y de elopmen s (Che nobai e al., 2021; Pin o & Ma ques, 2024). P ac i ione s need o es ablish
a dedica ed eam o uni asked wi h moni o ing and adap ing bank ope a ions o new egula ions, such as Basel III o he Capi al
Requi emen s Di ec i e. This will help banks a oid egula o y sanc ions and ensu e compliance wi h global inancial s anda ds.
Fou h, he dominance o quan i a i e me hods in esea ch indica es ha da a-d i en app oaches and s a is ical analysis a e highly
e ec i e in managing ope a ional isk (Xu e al., 2019; Si e al., 2021). P ac i ione s a e ad ised o adop analy ical ools such as
Mon e Ca lo simula ion and panel da a eg ession o mo e accu a ely p edic and measu e ope a ional isk. The use o big da a
and analy ics can also help banks iden i y isk pa e ns and ake app op ia e mi iga ion measu es (Galle a e al., 2023). Finally,
he inc easing esea ch ocus on he impac o echnology and digi aliza ion sugges s ha banks need o in eg a e echnological
inno a ion in o hei isk managemen s a egies (Uddin e al., 2023). P ac i ione s a e ad ised o de elop amewo ks ha
inco po a e echnologies such as AI, machine lea ning, and blockchain o imp o e ope a ional e iciency and educe ulne abili y
o new isks in he digi al e a. O e all,The indings o his s udy p o ide aluable guidance o p ac i ione s in add essing
inc easingly complex ope a ional isk challenges. By adop ing ad anced echnology, s eng hening in e nal con ols, and
p oac i ely complying wi h egula ions, banks can enhance ope a ional esilience and ensu e u u e inancial s abili y.
Resea ch Limi a ions
An analysis o p e ious esea ch on bank ope a ional isk e eals se e al limi a ions ha need o be acknowledged in he
con ex o his sys ema ic li e a u e e iew (SLR). Fi s , al hough mos s udies use quan i a i e me hods such as panel eg ession
analysis, Mon e Ca lo simula ions, and Bayesian models (Han e al., 2015; Si e al., 2021; Galle a e al., 2023), he e is signi ican
a ia ion in he me hodological app oaches employed. This makes i di icul o gene alize he indings comp ehensi ely,
pa icula ly since some s udies use speci ic samples o egional con ex s, such as China (Han e al., 2015; Xu e al., 2019) and he
Uni ed S a es (Che nobai e al., 2021). Fu he mo e, quali a i e s udies using case s udies o concep ual analysis (Schenk, 2017;
Lubu ic, 2017) a e ewe in numbe han quan i a i e s udies, hus p o iding an unbalanced pic u e in unde s anding ope a ional
isk dynamics holis ically. Second, he dis ibu ion o ci a ions shows ha esea ch published in highly epu able jou nals,
pa icula ly Q1 jou nals, has a highe ci a ion a e, such as he s udy by Si e al. (2021) wi h 87 ci a ions and Elame e al. (2020)
wi h 89 ci a ions. Howe e , esea ch published in Q2 o Q3 jou nals has a lowe ci a ion a e, such as he s udy by Sha i i e al.
(2016) wi h 10 ci a ions. This indica es ha he quali y and impac o esea ch a e highly dependen on he epu a ion o he
jou nal in which i is published, so ha esea ch wi h s ong me hodology bu published in lowe - ie jou nals may ecei e less
a en ion. Thi d, ano he limi a ion lies in he esea ch ocus, which is la gely concen a ed in he con ex o ce ain de eloped
and de eloping coun ies, such as China and he Uni ed S a es, while esea ch in o he egions such as A ica o La in Ame ica is
s ill limi ed (Gadzo e al., 2019; Ki ikkaleli e al., 2020). This esul s in a lack o equi able geog aphic ep esen a ion, so he indings
o his SLR may no ully e lec he dynamics o ope a ional isk ac oss egional con ex s. Fu he mo e, esea ch in eg a ing
eme ging echnologies such as blockchain and a i icial in elligence emains ela i ely limi ed (Hu e al., 2024; Uddin e al., 2023),
despi e he signi ican po en ial hese echnologies ha e o ans o m ope a ional isk managemen in he digi al age. O e all, his
SLR p o ides a aluable o e iew o ends in bank ope a ional isk esea ch, bu i does ha e some limi a ions ha should be
acknowledged, pa icula ly in e ms o gene alizabili y o he indings, geog aphic ep esen a ion, and echnology
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7410
in eg a ion.Fu u e esea ch needs o ocus mo e on mul idisciplina y app oaches and mo e equi able ep esen a ion o p o ide a
mo e comp ehensi e unde s anding o ope a ional isk in an inc easingly complex global con ex .
Fu u e Resea ch Di ec ions
The pu pose o his sys ema ic li e a u e e iew (SLR) is o analyze and syn hesize he exis ing li e a u e on bank ope a ional
isk, ocusing on ele an opics, esea ch me hods, and key indings. The opics co e ed co e a ious aspec s o ope a ional isk,
including measu emen , managemen , and disclosu e o ope a ional isk, as well as i s impac on bank pe o mance. Key indings
in he li e a u e indica e ha bank ope a ional isk is a complex and mul idimensional issue, in luenced by bo h in e nal and
ex e nal ac o s. Common pa e ns iden i ied include he dominance o quan i a i e me hods in esea ch, a ocus on he impac
o digi aliza ion and go e nance, and inc eased a en ion o cybe and aud isks. Eme ging esea ch ends indica e a shi
owa ds he use o ad anced echnologies such as AI and big da a analy ics in ope a ional isk managemen . Me hodological
limi a ions iden i ied include a lack o in-dep h quali a i e esea ch and limi ed eal- ime da a. Topical gaps iden i ied include a
lack o esea ch in eg a ing en i onmen al and social ac o s in o ope a ional isk analysis. The heo e ical con ibu ion o his SLR
is o p o ide a mo e comp ehensi e unde s anding o bank ope a ional isk and i s implica ions o he banking indus y. The
p ac ical implica ions include p o iding ecommenda ions o banks and egula o s o imp o e ope a ional isk managemen and
de elop mo e e ec i e policies. Recommenda ions o u u e esea ch a e o ill he opic gap by conduc ing mo e in-dep h
esea ch on he in eg a ion o en i onmen al and social ac o s in ope a ional isk analysis, as well as de eloping mo e inno a i e
and mul idisciplina y esea ch me hods.
Closing Summa y
An analysis o p e ious esea ch on bank ope a ional isk shows ha his opic emains highly ele an and con inues o
e ol e. Mos s udies use quan i a i e me hods, such as panel eg ession analysis and Mon e Ca lo simula ions, o measu e and
mi iga e ope a ional isk (Han e al., 2015; Si e al., 2021; Galle a e al., 2023). This esea ch o en ocuses on he impac o
digi aliza ion and egula o y changes on bank ope a ional isk (Che nobai e al., 2021; Uddin e al., 2023). Fo example, a s udy by
Si e al. (2021) showed ha lending a e libe aliza ion can educe he ope a ional isk o ene gy companies in China, while
Che nobai e al. (2021) ound ha inancial de egula ion in he Uni ed S a es signi ican ly impac ed bank ope a ional isk. Resea ch
also shows ha ex e nal ac o s, such as egula o y changes, and in e nal ac o s, such as go e nance and human e o , play a
signi ican ole in de e mining he le el o ope a ional isk (Elame e al., 2020; Nei a & Ja boui, 2018). Elame e al. (2020)
emphasize he impo ance o go e nance in mi iga ing ope a ional isk in Islamic banks, while Nei a & Ja boui (2018) highligh
ha egula o y compliance can mi iga e ope a ional isk. Fu he mo e, human e o and aud emain he p ima y causes o
ope a ional isk, as demons a ed by Galle a e al. (2023) and Han e al. (2015). The e o e, esea ch ela ed o bank ope a ional
isk is no only academically ele an bu also has signi ican p ac ical implica ions o he banking indus y. Fu u e esea ch should
con inue o in eg a e mul idisciplina y app oaches, such as big da a-based analy ics and a i icial in elligence, o add ess eme ging
challenges (Uddin e al., 2023; Yin e al., 2024). Be e in eg a ion o echnology and isk managemen will be key o enhancing
bank esilience amids he complexi ies o he global inancial indus y. The e o e, his heme will con inue o be an impo an
ocus in u u e inance and isk managemen esea ch.
CONCLUSION AND SUGGESTIONS
Thema ic analysis o he ou majo ope a ional isk hemes in banking (In e nal P ocess Failu e, Human E o , Technology
Sys em Failu e, and Ex e nal E en s) shows ha igno ing SOPs is he bigges cause o ope a ional isk om in e nal business
p ocesses, ollowed by e o s in accoun opening & ansac ion p ocesses and inadequa e quali y con ol. E o s in execu ing
ansac ions and p ocedu es a e he bigges ope a ional isk e en s caused by human e o / ailu e, ollowed by aud and
unau ho ized ading. Ope a ional isk due o echnology sys em ailu e is mos ly caused by ope a ional e o s ela ed o he
abili y o use echnology, ollowed by cybe a acks and he use o echnology by unau ho ized pe sons. Ope a ional isk in banking
due o ex e nal e en s p edominan ly occu s when he e a e unexpec ed changes in laws, almos all exis ing s udies. This indica es
ha egula o y changes a e a dominan ac o in esea ch ela ed o bank ope a ional isk. This end shows ha egula o y
dynamics, especially unexpec ed ones, ha e a signi ican impac on ope a ional isk managemen in he banking sec o .
Classi ica ion o esea ch based on ope a ional isk ac o s and ci a ions p o ides insigh in o he mos equen ly discussed
opics in he con ex o bank ope a ional isk. Technology/digi aliza ion is he mos equen ly discussed opic. Go e nance and
adop ion o echnology/digi aliza ion a e c ucial aspec s o managing bank ope a ional isk. The implica ions o his end sugges
ha u u e esea ch should con inue o add ess he ole o echnology and go e nance in mi iga ing ope a ional isk. The e o e,
he ele ance o he opic o bank ope a ional isk o u u e esea ch challenges and oppo uni ies is highly signi ican , pa icula ly
in he con ex o echnology adop ion and go e nance enhancemen . Fu he esea ch can ocus on de eloping mo e e ec i e
Thema ic Analysis o Bank Ope a ional Risk: A Sys ema ic Li e a u e Re iew
JEFMS, Volume 08 Issue 11 No embe 2025 www.ije m.co.in Page 7411
isk managemen models by le e aging echnology and imp o ing go e nance p ac ices. The e o e, u u e esea ch can
signi ican ly con ibu e o enhancing bank esilience and pe o mance amids inc easingly complex global challenges.
Classi ica ion based on ope a ional isk in speci ic sec o s and i s ci a ions. I appea s ha he mos equen ly used con en
is "The Impac o Digi aliza ion on Co po a e Ope a ional Risk" and "Disclosu e o Bank Ope a ional Risk" wi h se e al a ia ions
o ela ed opics. This con en mos equen ly appea s ela ed o "Go e nance" and "Technology/Digi aliza ion". Meanwhile, he
opic "F aud" also has qui e high ci a ions. The implica ions o he ends displayed om his con en indica e ha esea ch ela ed
o bank ope a ional isk is cu en ly mo e ocused on he impac o echnology and digi aliza ion, as well as co po a e go e nance.
This is in acco dance wi h he de elopmen o he banking indus y which is inc easingly adop ing echnology and acing challenges
ela ed o ope a ional isk. E alua ion o he ele ance o hese hemes o u u e esea ch challenges and oppo uni ies shows
ha opics ela ed o bank ope a ional isk a e s ill highly ele an and ha e b oad esea ch oppo uni ies. Wi h inc easingly apid
echnological de elopmen s, esea ch ela ed o he impac o digi aliza ion on co po a e ope a ional isk will con inue o be an
in e es ing opic. The e o e, u u e esea ch can con inue o de elop ela ed opics o con ibu e o he de elopmen o a be e
banking indus y.
The dominan inding ha ope a ional isks a e p ima ily ela ed o inadequa e quali y con ol and human e o unde sco es
he impo ance o s eng hening in e nal con ol sys ems and ope a ional p ocedu es wi hin banks by imp o ing employee
aining and o e sigh o ope a ional p ocesses o educe human e o ha can lead o inancial o epu a ional losses.
Fu he mo e, he implemen a ion o echnologies such as p ocess au oma ion and a i icial in elligence (AI) can help minimize
ope a ional e o s caused by human ac o s. Banks need o imp o e cybe secu i y o ace he challenges o digi aliza ion. I is also
ecommended o adop ad anced echnologies such as blockchain and da a enc yp ion o p o ec sys ems om cybe a acks and
b eaches. Regula o y changes a e a dominan ex e nal ac o a ec ing bank ope a ional isk. The e o e, managemen mus be
p oac i e in ollowing egula o y de elopmen s, i necessa y, es ablishing a special eam o uni asked wi h moni o ing and
adap ing bank ope a ions o new egula ions. I is also ecommended o de elop a amewo k ha inco po a es echnologies such
as AI, machine lea ning, and blockchain o imp o e ope a ional e iciency and educe ulne abili y o new ope a ional isks in he
digi al e a.
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