Emerging market banks are catching up on op risk management

Banks in Asia and Latin America are increasing efforts to catch up with their European and North American counterparts in developing high-quality operational risk management programmes, according to Ali Samad-Khan, president of the newly formed Operational Risk (OpRisk) Advisory, a specialist firm dedicated to providing a range of operational risk management consulting services.

Samad-Khan, who is also an operational risk adviser with the Bank for International Settlements (BIS), says although the emerging markets banks were lagging their Group of 10 counterparts by one or two years, they had gained momentum developing equally good programmes for operational risk management.

“The leading banks have already begun implementing some of the Basel II operational risk requirements, and they are in fact doing this for reasons beyond compliance. They have come to understand

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