Innovations have become an everyday part of modern business, which has not bypassed the financial
sector. Survival on the market depends on the way banks adapt to new circumstances and trends, such
as introduction of new products, services, processes or organizational forms. The report of the Basel
Committee on Banking Supervision for 2019 points out that financial technologies and innovations
increase the complexity of providing financial services, as well as the level of operational risk, making it
more difficult to manage and control it.
Considering the above, the aim of this paper is to try to determine the impact of the introduction of
innovations on the level of operational risk, especially focusing on the human factor and employment.
The results for the period 2011-2019, including 26 banks, show that there was an increase in the capital
requirements for operational risk and a downsize in the number of employees. However, we could not
find strong evidence that this happened due to the introduction of innovative product and services in
the banking sector of Serbia.
M. Antonijević, I. Ljumović, “Innovation and New Roles of Employees in Operational Risk Management,” in FINIZ 2020 - People in the focus of process automation, Belgrade, Singidunum University, Serbia, 2020, pp. 118-124. doi: 10.15308/finiz-2020-118-124
Antonijević, M., Ljumović, I. (2020). Innovation and New Roles of Employees in Operational Risk Management. Paper presented at FINIZ 2020 - People in the focus of process automation. doi:10.15308/finiz-2020-118-124