Op risk responsibility: The buck stops with everyone

Peter Hill
27 Sep 2010

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In a financial institution, where does responsibility for operational risk lie? Is it totally with the head of operational risk, or is that person just responsible for measuring the operational risk across the organisation? Who is responsible for managing it?

The answer will probably vary from firm to firm. Few organisations see operational risk as something that has to be done for the sole satisfaction of regulators any more. That time has passed, and now people see merit in having an

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