Why won’t banks grasp the op risk nettle?

OP RISK MANAGEMENT

The failure of banks to grapple properly with operational risk has cost them dear. But, say Capco’s John Owen and Andrew Fishman, effective op risk management is less complicated than widely assumed

Fraud occurs every day in the investment-banking world. It may be on a smaller scale (or, if you are unlucky, on a similar scale) than the near $700 million loss incurred this year by Allied Irish Banks (AIB), but the majority of incidents remain undetected by the operational controls already in

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