Business side must be challenged on risk reports, conference hears

Frontline business may avoid addressing major risks

Under scrutiny: responses from first line of defence should be challenged

Risk self-assessments from frontline businesses should be challenged to ensure they reflect the true risk environment, delegates at OpRisk Europe in London heard today (June 11).

In a panel discussion on risk control self-assessments (RCSAs), participants recommended "peer review" and other ways to challenge the responses from the first line of defence.

Stephen Creese, head of operational risk management for Europe, the Middle East and Africa at Citi, said frontline businesses are good at

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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