Financial services firms embrace risk convergence in theory but not practice


NEW YORK – Risk convergence is the new buzz word for operational risk managers but, in a similar vein to enterprise risk management, putting it into practice has been difficult.

"Risk convergence is about striking the balance of effectiveness and efficiency," says Dan McKinney, at Ernst & Young Risk Advisory Services in New York. "It is a practical way for organisations to rationalise and streamline the various compliance-related risk and control programmes that have been rolled out over the last

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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