Tougher rules prompt compliance and op risk rethink


LONDON & NEW YORK - The increased level of regulatory scrutiny has prompted one UK bank to enhance the independence of its compliance function, despite having recently made substantial advances to move it closer to the risk department.

Lloyds Banking Group, a previous advocate of bringing compliance and op risk together (as stated by risk director Carol Sergeant in her cover profile in the June 2008 issue of OR&C), is now separating the two departments, each with its own head. Neeta Atkar is

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Investment banks: the future of risk control

This 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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