Consultancy of the year: KPMG

Dealing with regulatory demands and uncertainty

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The discipline of operational risk management seems to be in a permanent state of flux. The past 12 months have been no different. Larger financial institutions, in particular, are striving to adapt their operational risk frameworks to lawmakers' demands, such as the formal guidelines from the US Office of the Comptroller of the Currency (OCC) for its heightened expectations for large banks, released in January 2014, and the Federal Reserve's enhanced prudential standards from February 2014.

Bec