Defining the boundaries

Just what is operational risk? Is it truly separate from credit and market risk? Where are the boundaries? Should there be boundaries? These are the questions that Him Chuan Lim, the Basel II programme director and head of Operational Risk at DBS Bank in Singapore, has been asking himself over the past few months. To put this in context, DBS Bank arguably has the most advanced operational risk framework of all Asia-based financial services firms, and has won several OpRisk & Compliance Ac

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