Op risk function plays large part in new business approval, says survey


An inaugural survey of operational risk management at 15 major financial institutions, carried out by Operational Risk & Regulation, has found banks making progress in the way their senior managers use operational risk information. There is still work to do, though – especially in the front office, respondents say.

The survey reveals operational risk managers are very involved in new business and change-management processes, with fewer than one in 10 saying operational risk played no role. Sixty

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