UBS hoping for capital relief for past op risk losses

OpRisk North America: Swiss bank has overhauled its risk and compliance functions to prevent a repeat of costly missteps

James Oates
James Oates, UBS
Photo: Alex Towle

UBS is hoping its regulators will reduce the level of operational risk capital it must hold against past losses under the forthcoming standardised measurement approach (SMA), according to James Oates, UBS’s global head of compliance and operational risk control.

Speaking at the OpRisk North America conference in New York yesterday (March 20), Oates set out how the bank had systematically overhauled its operational risk and compliance function in a bid to prevent a repeat of costly missteps –

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