Exclusive survey shows "reality gap"

There is a substantial gap between expectations and reality when it comes to the short-term benefits of putting an operational risk management framework in place. This gap is clearly shown in the results of an exclusive survey conducted by Operational Risk in partnership with SAS, the US-based enterprise-wide software provider.

Financial firms are not putting sufficient resources and investment into op risk initiatives to produce the sizeable financial rewards they are predicting to reap over the next 12 months, say industry experts commenting on the survey results. The more than 400 executives who responded to the Operational Risk-SAS survey were by-and-large enormously optimistic about the expected declines in errors and losses that are to be the result of their new op risk initiatives, as well as the anticipated

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