Use test irrelevant?


Is the use test relevant? Apparently not, according to one regulator who spoke at OpRisk Europe 2008 in mid-April. Martin Sprenger, head of the operational risk team at the Swiss Federal Banking Commission, said during a regulatory panel discussion that: "We believe the use test is not particularly important."

Sprenger said he believed the use test created a contradiction for regulators. On one hand, they are meant to let "a thousand flowers bloom" - banks can develop their own approach to op

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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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