Regulators zeroing in on non-financial risk, say banks

OpRisk Europe: Several big financial firms said to be considering appointing heads of non-financial risk

L to R: Brenda Boultwood, Jason Forrester, Philip Umande, Sean Miles
L to R: Brenda Boultwood, Jason Forrester, Philip Umande and Sean Miles
Lucy Stewart

Regulators are stepping up their focus on non-financial risks and banks should consider restructuring their risk management functions accordingly, operational risk managers said at the OpRisk conference earlier today (June 12).

Jason Forrester, head of enterprise and operational risk management at Credit Suisse, said non-financial risk – in its broadest conception, all risks not covered by a bank’s market and credit risk frameworks – came in for special attention at a Basel Committee on Banking

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