Term  Definition                            Business line A combination of similar business activities within an institution.  Business line  mapping The representation of an institution´s processes in a standardised scheme of  business lines.  Control  environment The overall attitude, awareness and actions of directors and  management regarding internal controls and their importance in the entity (encompassing the management style, and corporate culture and values shared by all employees), which provides the background  against which the various other controls are operated. The control environment can often be referred to also as the Control Culture. (UK Statement of Auditing Standards (slightly paraphrased)).  Controls  (including  internal  controls) A measure that reduces the probability and/or the severity of an event.  Operational  risk   committee A group of staff members (including management) in a financial institution, who discuss the operational risk issues on a  inter-business level and monitor the progress of the implementation of an operational risk framework and advise or decide on activities to be performed.  Operational  risk  controlling The set of activities, which makes the operational risk transparent to allow (senior) management to make decisions and the independent  monitoring of the adequacy and the completion of the consequent actions.  Operational  risk  control An oversight function and activity to evaluate the level of operational risk in an organisation.  Operational  risk  framework A set of activities, which build an operational risk management cycle and the supporting tasks for the creation and maintenance of this  management cycle.  Operational  risk  policy An internal document reflecting the internal and regulatory  requirements for the implementation of a sound control environment (commonly called operational risk management framework) within the financial institution.  Operational  risk  guidelines An internal document containing the implementation of the  operational risk policy in the individual organisational unit within the financial institution.  Operational  risk  management The sets of activities to take, limit, mitigate and transfer operational risk, to which the financial institution is exposed.  Standard  business  line A grouping of business activities into prescribed categories defined by the regulators.