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If you can't beat them…

Large banks are increasingly building their op risk systems in house, so what's a software vendor to do? Many are now helping the institutions commercialise their products. By Dianne See Morrison

Three years ago, Dean Jovic, group managing director of risk and Basel II at SunGard, began researching the operational risk market. The software firm needed an op risk product to round out its risk offerings, and Jovic wanted to either purchase a system, or gather enough research for the firm to build its own. He admits he found the task confusing. Vendors talked up their products, forecasting

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