Banca Intesa: conquering the cultural challenges of op risk

Maria-Louise Arscott, head of operational risk at Banca Intesa, based in Milan, says "Unlike market and credit risk — where when something goes wrong it is either the market’s fault or the counterparty’s fault, respectively — operational risk can be perceived as being very personal. When a process goes wrong, somebody designed that system, or someone was executing that process."

According to Arscott, creating an internal culture that is friendly to the collection of operational risk data and

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