Op risk in Canada: a recipe for success
Canada’s tight-knit and conservative banking community weathered the financial crisis well, due to its restrained approach to risk and a good relationship with its savvy regulators. ORR talks to some in the market about this success, and where op risk in the country is heading
Canadian regulator the Office of the Superintendent of Financial Institutions (Osfi) recently issued a list of 16 reasons why the banks of the country fared better in the financial crisis than banks in other advanced financial markets. Chief among the reasons were the strength of the country’s regulatory environment, the range of products its banks offered and the overall culture of the Canadian
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