ORR Innovation Awards 2011: Bank of the Year

National Australia Bank

ross-love-nab-2010

Whenever you talk about advances in operational risk management, the name National Australia Bank (NAB) crops up. NAB has long been at the forefront in developing ways to transfer operational risk, specifically using insurance to mitigate operational risk exposure. It has been one of the guiding firms in the Operational Risk Industry Consortium and was one of the first banks to map its operational risk to its insurance coverage. NAB's risk manager Ross Love placed the use of insurance at the

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