This council's mission is to promote sound practices in the management of operational risk in financial service institutions worldwide. It will promote understanding of the causes, events, and effects of operational risk through dissemination of management methods, and sound practice tools and materials. The council will sponsor research in support of its mission; facilitate links between the industry and regulators; and support the professional development of all those engaged in the management of operational risk that from time to time may include surveys, publications, studies, and analyses as well as events related to furthering the development of operational risk management.