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Mud sticks

Finally, a strong link has been made between operational risk and reputational risk. Firms must now factor this into their everyday risk management structure if they are to stay ahead of the pack. By Choongo Moonga

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Reputational risk has always been one of the thorniest of subjects. It was left out of the definition of operational risk by the Basel Committee on Banking Supervision partly because it is so difficult to quantify. But now, industry executives say it’s reputational risk that is at the core of most op risk losses, and so more study and analysis of this risk is required.

Enter the Wharton School of Business, at the University of Pennsylvania. The Philadelphia-based business school released new

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