IOR: Governance structures crucial to op risk management

Photo of Edward Sankey — Edward Sankey - chairman of the Institute of Operational Risk

Mark Sands
27 Sep 2010

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LONDON – Good governance is the cornerstone to effective op risk management, says a guidance paper from the Institute of Operational Risk (IOR).

The IOR’s third sound practice guidance paper, issued mid-September, stresses the need for governance structures to co-ordinate risk management across organisations.

The paper argues robust risk governance is vital if operational risk management is to be successfully embedded, and advocates using the ‘three lines of defence’ model to help achieve this

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