Op risk managers struggle to be heard
Senior management buy-in an impossible task say op risk managers; regulators say more training, not regulation, is the answer
Although the financial crisis has highlighted the importance of good risk management to senior management, op risk managers are still finding it difficult to secure buy-in and support from their top executives.
“Operational risk managers ask us all the time if we can bring in a rule to force senior management buy-in,” says one regulatory source, “but of course we can’t do that.”
Regulators are
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