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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