Op risk tolerance, not appetite, White tells conference

UBS op risk framework head describes struggle with defining op risk appetite

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Philip White, UBS, speaking at OpRisk Europe 2014

UBS faces a challenge in attempting to define its operational risk appetite, the OpRisk Europe conference in London heard today. Philip White, head of operational risk control frameworks at UBS, told delegates that the intellectual challenge of setting a risk appetite for operational risk is proving to be a troubling one.

"This is a question that we're struggling with conceptually," he said. "We've had a risk appetite statement for each of our taxonomies for about 18 months now and we have an

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