Profile: Joe Sabatini and the rules of engagement
The guiding principles of Basel II are now shrouded in mists of regulatory detail, says JP Morgan's Joe Sabatini. He tells Duncan Wood op risk managers must now look beyond mere compliance, and focus on adding value to their firms
Joe Sabatini is concerned. Not about JP Morgan – where he runs one of the banking industry's most mature operational risk functions – but about the profession's prospects in the near future. In the past few years, the guiding principles of Basel II have been obscured by a rapidly accreting layer of prescriptive detail, he says, forcing op risk managers to focus more on compliance than on value.
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