Road to transition


The operational risk world is at a crossroads. One path leads to banks’ full engagement with op risk management; another leads to obscurity, with op risk management consigned to the compliance bucket. A third path strikes an unhappy balance between the two, neither achieving full engagement nor divorcing the discipline wholly from the perception it is just a compliance issue. The message that the financial crisis had its roots in operational risk events has been lost, with many banks reclassifyi

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