Basel II just the beginning for operational risk monitoring in banks, says Fitch

In a new report, Fitch Ratings said the management of operational risk is a necessary best practice for well-run financial institutions. In the report, The Oldest Tale but the Newest Story: Operational Risk, Fitch says it expects larger institutions to adopt a broader definition of operational risk than that proposed by Basel II, one which encompasses the full spectrum of operational risk issues and initiatives, including reputational and business risks.“Basel II has provided a much-needed c