OpRisk Benchmarking Survey 2014


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 figures, fo

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