Top 10 op risks 2020: conduct risk

Root-and-branch reform of bank culture remains a work in progress

Conduct risk returns to this year’s Top 10 Op Risks, although it’s never really been away. The category is an aggregation of two key subsets of the risk – mis-selling and unauthorised trading – which have appeared repeatedly in previous years.

“We still have not moved away from the number one risk: conduct,” says an op risk head at a UK bank, about the financial industry. “Conduct by its nature tends to take some time to be identified, and then often takes a long time to manifest itself in

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