US Risk Management Association appoints new operational risk head
Charles Taylor has been appointed director of operational risk at the 88-year-old Risk Management Association (RMA), based in Philadelphia, a 3,000-member organisation catering primarily to US commercial banks, community banks and some global investment banks.
By this May, Taylor plans to develop an 'Operational Risk 101' course for financial institution auditors, business line managers, compliance officers and new operational risk managers. More advanced operational risk management training courses may follow.
Taylor said the RMA would also be assessing the state of current operational risk data gathering efforts under global investment bank auspices and at private consultancies. From this he will determine what further work the RMA could do to help its members comply with the advanced approach for operational risk regulatory capital reserving proposed by the Basel Committee.
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