OP RISK IN ASIA: Time for change

ALTHOUGH enthusiasm for the op risk discipline continues unabated in many quarters in Asia, implementation by the vast majority of firms remains sketchy, and regulators are being blamed for not 'pushing' firms enough in this area.

Op risk executives complain that the lack of regulatory drive in many countries has led to a fairly passive, compliance-orientated attitude from senior management and boards of directors at many firms. More attention is being paid to credit risk from a Basel II

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