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In the thick of it

Duncan Wood talks to Valerie Belhassen, global head of operational risk at BNP Paribas in Paris, as she rolls up her sleeves to assess the Société Générale rogue-trader scandal and what it means for BNP's op risk practices. For her, this is just another day at the office...

Early on January 24, Société Générale (SG) stunned the banking world by announcing a €4.9 billion loss, attributed to unauthorised activity on the part of a single equity futures trader, Jerome Kerviel. A few hours later, OR&C was due to speak to Valerie Belhassen, global head of operational risk at BNP Paribas. This is a woman who obviously has a lot on her plate - and to her immense credit she

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