Op risk needs greater R&D effort, say US regulators
Senior Fed regulators call on banks to restart research into op risk management
The long-term future of operational risk management will depend on banks stepping up investment into research and development (R&D), say two senior regulators within the US Federal Reserve.
This boom must come in two forms, argue Evan Sekeris, assistant vice-president at the Richmond Fed, and Eric Caban, leader of the operational risk governance team at the Fed in New York. There must be growth
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