Op risk data: firm-wide control fails cost Citi $400m; CRO exits

ORX News
09 Nov 2020

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In October’s largest loss, Citi was fined $400 million by the US Office of the Comptroller of the Currency over deficiencies in enterprise-wide risk management, compliance risk management, data governance and internal controls.

The OCC found that, over several years, Citi failed to comply with its guidelines for establishing minimum standards for the design and

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