Operational risk: what do the regulators expect?
Being able to demonstrate good practice in areas such as risk reporting, governance and culture is critical for firms seeking to reassure regulators about their operational risk management. Ariane Chapelle offers some advice on how to avoid unnecessary scrutiny
The financial industry is global, so it's not surprising that supervisors in different countries share common concerns when it comes to operational risk. Listen to regulators from the US Federal Reserve System, the Bank of England and the UK Financial Conduct Authority and you will hear a number of familiar themes. Whether you are a newly regulated entity or an approved person preparing for your first visit from regulators, it's useful to bear in mind some essentials on how to demonstrate good
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