01 Jan 2006, Ellen Davis, Operational Risk & Regulation
I would first like to thank the magazine's entire community of readers for their support, feedback and contributions over the past three years – it's been an exciting time of development and evolution in the operational risk industry.
Over time, the scope of what is understood to be 'operational risk' has expanded dramatically, which brings me to the reasons behind the new name. When we changed our format in May 2004 to become a magazine, it was because our readers indicated that they wanted enhanced content on four important topics – business continuity, corporate governance, financial crime and enterprise-wide risk management.
Now, our readers have spoken once again – I've met with dozens over the past six months, and all said the same thing. They are spending more and more time working with their compliance executives on these issues, as an inherent part of op risk management.
And compliance executives I spoke with said they wanted to know more about 'risk-based' approaches to regulation and implementation of compliance projects.
In short, the two disciplines seem to be coming together. So, we've changed the name of the magazine to reflect the direction the industry itself is headed in.
Some changes to the content are happening in this issue, and others will be implemented during the year. In this issue, we are introducing a two-page news section that will provide summaries of loss events around the globe over the previous month. The brief stories will help risk and compliance executives stay abreast of new and evolving loss trends.
We are also introducing two news sections – 'Legal beat' and 'Compliance tools'. The first focuses on court cases, news from law firms and legal departments, and other related articles. The second explores technology to help firms meet their compliance obligations.
We have also be expanded 'What's coming and when' to two pages, to provide global coverage of the deadlines associated with various compliance initiatives.
Finally, we'll be introducing a monthly survey, the results of which will run over a special double-page spread in each issue. Topics range from op risk technology, to Sarbanes-Oxley, to business continuity.
Over the coming year, we hope to continue to evolve the magazine to meet the needs of our rapidly expanding readership base. We will be growing the number of pages of content, and are adding staff globally to report and write the information our readers need to do their jobs.
If you have comments, ideas, or feedback on how the magazine might grown and evolve further, drop me a line at [email protected].
Have a great month! OR&C