Autonomy is key, says Schmidt-Bies

REGULATORY UPDATE

Answering questions from attendees of the 2006 OpRisk USA conference in New York in late March, Schmidt-Bies said functional independence of risk managers can bring about credibility to command attention with management.

She said independent op risk managers can bring about enterprise-wide risk management (ERM) as they are "really the only ones that can see through the entire organisation".

"Everybody else is embedded in the lines of business, but your job is to look through the entire

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