Tougher rules prompt compliance and op risk rethink
News
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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