UK operational risk policy backs enterprise-wide risk management


With comments on the UK regulators' operational risk paper due by October 31, IBM's Pierre Pourquery says the proposals go above and beyond Basel II

UK regulators, with their recent consultative paper on operational risk, have increased the need for financial services industry firms to take an enterprise-wide approach to managing the risks they face.

The paper on operational systems and controls issued in July (see Operational Risk, August 2002, pages 6 and 20) by the Financial Services Authority

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