OpRisk Benchmarking Survey 2014

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Recent failures of internal controls have thrown even more light on the importance of good operational risk management. The vast regulatory penalties imposed on banks found to have mis-sold everything from payment protection insurance (PPI) to mortgage-backed structured products represent a significant and visible cost of operational risk. The cost to UK banks of compensating the victims of PPI mis-selling is now over £13 billion, according to the Financial Conduct Authority's latest fi