Op risk needs greater R&D effort, say US regulators
The long-term future of operational risk management will depend on banks stepping up investment into research and development (R&D), say two senior regulators within the US Federal Reserve.
This boom must come in two forms, argue Evan Sekeris, assistant vice-president at the Richmond Fed, and Eric Caban, leader of the operational risk governance team at the Fed in New York. There must be growth both in terms of depth of study, and the number of people involved, to build up the number of skilled
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