Conduct risk rush a worry, says State Street op risk head

Setting up conduct risk units in a hurry may hamper op risk management

State Street's London offices

Banks need to be careful about setting up conduct risk offices as a direct reaction to industry events, State Street Global Markets' chief operational risk officer has warned.

David Kenny says that recent industry events have led to institutions setting up conduct risk offices "in a hurry", which can have significant consequences for the overall management of operational risk.

"There is a problem here for the operational risk discipline if we're too reactionary. You run the risk of disconnecting

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