Evolution of op risk


Could enterprise risk management (ERM) have prevented the SG rogue trading event? Not according to a panel of experts at OpRisk USA moderated by Marta Johnson, global markets group, infrastructure, operational risk, at Bank of America. Panellist Allan Grody, adjunct professor emeritus, Stern Graduate School of Business, said ERM would not have prevented the SG event as it doesn't have a granular bottom-up approach to op risk but, he added, that it probably would have prevented it from getting so

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Investment banks: the future of risk control

This Risk.net 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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