2006: a year of deadlines and worry
COVER STORY: A YEAR OF UNCERTAINTY FACES EXECUTIVES, AND MANY INITIATIVES ARE STILL FAR BEHIND
The most obvious challenge is op risk implementation. Firms in many jurisdictions will focus on putting AMA documentation in place for supervisors. Yet for most EU countries, domestic op risk regulations are still in the consultative phase. For example, the UK's Financial Services Authority issued two papers – one on internal loss data issues by the Operational Risk Corporate Governance Expert group in the UK and another on data integrity and validation issues by the AMA Quantitative Expert
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