Financial services firms embrace risk convergence in theory but not practice
MANAGEMENT
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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