Strategy Implementation - Practice Makes Perfect


While a "battle of ideas" continues among op risk theorists, practitioners are testing out which ideas work best. Rob Jameson found that Tony Peccia of CIBC offers strong opinions -- and some surprises.

Tony Peccia, Toronto-based head of op risk at CIBC, is in the front-line of his bank’s attempt to put op risk theory into practice.

The seeds of the bank’s strategy were sown some years ago when CIBC decided to adopt risk-adjusted return on capital or RAROC -- the allocation of economic capital to

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