Op risk management and Sarbanes-Oxley technology will integrate, says SAS
New York -- The financial services industry is increasingly seeing the integration of requirements for both operational risk management and Sarbanes-Oxley compliance, says Peyman Mestchian, director of risk management practice at SAS UK. Mestchian says the trend across financial institutions pointed to a significant overlap in the management of operational risk and Sarbanes-Oxley-related compliance.
"Sarbanes-Oxley is focusing on assessment and validation of financial controls, and that’s a subset of operational risk. We are seeing more and more financial institutions wanting to integrate operational risk with Sarbanes-Oxley projects. The overlap between these requirements leads to integrated management tools," he says.
"On the other hand, a lot of business users within banks do not want to be
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