Bank of the Year: HSBC

HSBC transforms its operational risk function at considerable cost, but with commensurate returns

Mark Cooke
Mark Cooke: “At the end of the day it comes down to prudent risk management on a day-to-day basis”

HSBC’s radical turnaround through its Operational Risk Transformation Programme (ORTP) is a testament to its risk team and leadership, delivering greater efficiency and oversight in risk management, and winning it the OpRisk Bank of the Year award.

“In 2015, the business community here recognised a need to greatly improve how we go about identifying and managing risk,” says Mark Cooke, group head of operational risk at HSBC. “They said ‘we can’t see what is important to our business, what the

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