IOR opens Asian chapter

The Asian of chapter the Institute of Operational Risk (IOR) has officially opened its doors. Based in Hong Kong, the Asia IOR aims to establish and maintain standards in the discipline of operational risk management in the region.

Asia IOR will be headed by Dominic Wu, regional head of operational risk at Nomura. Wu says: "Until now there had been no specific professional organisation to provide personal accreditation to practioners [in Asia]. Our aim in launching this chapter is to create a platform for IOR members to share and learn."

Wu will be backed by a team of five, each heading up a single work stream, including best practice and standards development.

The new chapter marks the continuation of a determined expansion by the Institute. In the past three years, new chapters have also been opened in Australia and Scotland. There are also plans to create another chapter based in Germany later this year.

The Asia IOR was officially opened with an inauguration ceremony on June21 , attended by members of the financial sector, regulators, academics and professional bodies.

Edward Sankey, chairman of the IOR says, "Having a local chapter will considerably enhance the profile of operational risk management in Asia."


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