Industry toasts winners of first annual ORAA

The first annual Operational Risk Achievement Awards were handed out at a dinner in London on March 16, hosted by Operational Risk magazine. The awards, were given to nine firms, one regulator, and for one academic paper, in recognition of "quality, distinctions and advances" in the discipline of operational risk.

Prior to the establishment of this awards programme, this rapidly expanding industry did not have a forum for the recognition of innovation and excellence in this field. Participants in the Operational Risk Achievement Awards sent in their applications by mid-January and the judges convened at the end of that month to draw up a short list of two to three submissions in each category. Even though this was the first year of the programme, the overall quality of the submissions was very high, with

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