Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and ManagementOne of the main reasons for the 2008 financial crisis was the failure in operational risk management. Making this one of the reason why operation risk is having more and more a bigger importance. While considering whether or not to opt for a centralized risk management processes we should be aware of the inherent operational risk coming from it. A financial institution who choose this system must ensure that had analyse and review the potentially negative impact and risks that could came from the choice made, so it can protect the company’s interests. This study aims to analyse the operational risk inherent to the centralized risk management processes in financial institutions through analysing the potential risks associated to the process. The study purpose also to find out the benefits and risks to centralization as well as how to mitigate them. The objective is to analyse whether a centralization of risk management processes brought benefits to a financial institution and what are the operational risks associated to that. This study will be relevant not only in the present by knowing if that was a good decision and add value to the company, but as well it will be helping in the identification, measuring and mitigation of operational risks in the centralization of risk management processes from now on
