OpRisk North America: Right culture is critical, conference hears

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Risk management is as much about culture as structure, speakers at the OpRisk North America conference told a packed audience in New York yesterday. Keynote speaker Mark Levonian, senior deputy comptroller for economics at the US Office of the Comptroller of the Currency, warned: "It's hard for good controls to overcome bad culture."

But finding a cure is trickier than describing the disease. Asked about the solution to bad risk culture, he said: "We can see it, but it's hard to change. Usually

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