Integrated governance, risk and control framework based on the elements of Basel operational risk definition, policies and procedures, people, and system - Online DBA defense

On 22 July 2021, Mr. Ehab Nagy successfully defended his DBA thesis titled ‘Integrated governance, risk and control framework based on the elements of Basel operational risk definition, policies and procedures, people, and system: A study of the Egyptian banking sector’. The DBA defense took place in an online session.

“The DBA program provided by MSM with its outstanding reputation in management education was an excellent experience. It was a rewarding and challenging journey with all its prominent features and distinctive academic and professional supervisors and highly experienced professors,” according to Dr. Ehab Nagy. “This study provided by this reputable business school deepened my knowledge, with a significant contribution to my intellectual growth and increased my analytical skills and capabilities to solve managerial dilemmas. I strongly recommend this DBA program for anyone seeking a high standard of quality in education.” Dr. Nagy concludes.

About Dr. Ehab Nagy’s research
Irrespective of the stakeholders’ contradicting interests, there is no doubt that any entity should have adequate and effective internal control, risk management, and governance framework.

Dr. Nagy’s study suggests an integrated framework for governance, risk, and control (GRC).

The framework depends on three main variables of the definition of operational risk provided by Basel (people, policies, and procedures and system). This proposed framework clearly defines and differentiates between the two concepts of adequacy and effectiveness. To ensure the adequacy of the framework, Dr. Nagy’s research suggests that an effective comprehensive and end-to-end framework must be based on some mandatory requirements. Also, to ensure the effectiveness of the GRC framework and the effectiveness of the organization’s overall processes. The organization should capitalize on people, policies, and procedures and system.

This framework considers GRC as a journey, or a cyclical process, in addition to being a culture. This journey begins with the identification of stakeholders’ interests and expectations and ends with the evaluation of their achievements.

Dr. Nagy’s study validated that the assessment of the GRC performance should be based on both, the achievement of objectives and stakeholders' interests, and the level of risks exposure. This study was conducted in the Egyptian banking sector.