OpRisk North America: Conference focuses on problems of op risk appetite

Zero tolerance sounds good but useless for managers, conference hears

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Problems surround the calculation of operational risk appetite, but used correctly it can be a valuable tool, delegates at the OpRisk North America conference in New York heard today.

"The real question is why we do it, and even should we?" said Philippa Girling, business chief risk officer for Capital One Commercial Bank. "A lot of the time my sense is that it is just meeting a regulatory requirement."

David Kenny, global head of operational risk for State Street Global Markets, agreed: "I thin

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