Communicating with the board
Although everyone now appreciates the importance of operational risk, board members are still not getting the necessary information when they meet to discuss it. What can be done? By Dianne See Morrison
No-one needs to tell board members just how important operational risk has become. Following the wave of recent corporate scandals in the US, and the ensuing laws, such as Sarbanes-Oxley, passed to prevent them happening again, boards at every major financial institution have made it one of their top priorities.
"Five years ago, op risk was primarily the private domain of the control nerds," says
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