Resolving the confusion
Risk control self-assessments have become a Tower of Babel for the op risk discipline, with a variety of different approaches being taken. Ellen Davis reports
WHEN a consultant calls the debate around a particular discipline 'dysfunctional', one can be pretty sure there is a problem. After all, consultants make their living sorting out other people's 'challenges'. Rough and ready debate is their bread and butter.
But when it comes to the dialogue around risk control self-assessments (RCSA), the word 'dysfunctional' can begin to seem too tame. Although it is one of the foundation stones of the operational risk quantification discipline, at least five
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