Citi's Wertheim: Op risk function must prove added value

Financial firms are focusing much more on operational risk, but risk managers still need to demonstrate to their peers how op risk management adds value, says John Wertheim, head of operational risk for Europe, the Middle East and Africa at Citi in London.
“There is certainly a greater focus on operational losses and a strong desire to mitigate risk,” he told a seminar organised by the British Bankers' Association today.

The crisis showed how volatility, an adverse credit environment and

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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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