Op risk managers struggle to be heard

UK FSA says more training necessary to fill op risk gaps

Although the financial crisis has highlighted the importance of good risk management to senior management, op risk managers are still finding it difficult to secure buy-in and support from their top executives.

“Operational risk managers ask us all the time if we can bring in a rule to force senior management buy-in,” says one regulatory source, “but of course we can’t do that.”

Regulators are also worried about the lack of experienced op risk personnel at firms, which has been made apparent in