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Culture and checklists: Maersk's op risk management

Maersk Tankers moves more of the world’s refined oil products than any other carrier, and follows a strict operational and compliance regime to ensure it does this safely. ORR talks to Maersk managers to find out what financial institutions can learn from the shipping industry

Maersk VLCC Tanker

Moving flammable and dangerous liquids and gases across the world’s oceans is an inherently risky activity. It has been the cause of accidents such as those involving the Exxon Valdez in Alaska in 1989, the Torrey Canyon on the coast of Cornwall in 1967 and the Amoco Cadiz off Brittany in 1978. Such events – and related accidents involving oil spills from rigs and wells, such as BP’s Macondo spill

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Emerging trends in op risk

Karen Man, partner and member of the global financial institutions leadership team at Baker McKenzie, discusses emerging op risks in the wake of the Covid‑19 pandemic, a rise in cyber attacks, concerns around conduct and culture, and the complexities of…

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