ORR Innovation Awards 2011: Initiative of the Year

Angelos Deftereos, Oric

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As head of the Marsh operational risk practice in New York, Angelos Deftereos has worked hard to bring operational risk management and insurance closer together. To facilitate this goal, he has been instrumental in the formation the Operational Risk Industry Consortium, or Oric. Oric is a working group comprised of large financial institutions set up in 2008. The goals of the group are to enable banks to share best practices regarding the transfer of operational risk, to work with regulators