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  Banks Must Be Especially Careful With Their Risk Management Practices, As A Single Mistake Can Lead To A Substantial Financial Loss. Banks Can Minimize Their Chances Of Experiencing A Negative Event By Implementing A Risk Management Plan. It's A Crucial Part Of Running A Bank, And It's Something That All Bank Employees Should Be Familiar With. Keep Reading To Learn More About risk management in the banking industry . What is risk management? Cause Financial Losses Or Regulatory Penalties. Must Read: How to Get Free Website Traffic Another Key Part Of The Process Is Identifying Potential Triggers That Could Cause A Particular Risk Event. For Example, A Trigger For Credit Risk Might Be A Borrower Defaulting On Their Loan Payments. Once Triggers Have Been Identified, Mitigation Strategies Can Be Implemented To Reduce The Likelihood Of A Risk Event Occurring. It's Important To Monitor The Effectiveness Of Risk Mitigation Strategies To Make Any Necessary Adjustments. This