What can operational risk managers learn from aviation?

Aviation’s approach to operational safety is being used as a case study for operational risk managers in finance, arguing that the industry’s resilience is built over decades. The article, written by Konrad Kompa, Financial Risk Management Director at mBank SA, references a near-miss incident involving human error within a strong control framework that could have led to material financial loss. It then draws lessons from aviation safety literature and professionals. Key takeaways include building redundancy instead of single points of failure, adopting a “just culture” rather than blame, clarifying ownership before incidents, strengthening communication and challenge culture, and preserving human judgment alongside automation. It also notes that fatal accidents in commercial aviation are extraordinarily rare.