Asset managers advance operational risk programmes

Independent asset management firms catching up with bank- and insurance-owned peers

Like banks, asset managers need to worry about op risk breakdowns

Independent asset management firms are stepping up their programmes for dealing with operational risk in response to an increased focus from regulators, say industry experts.

“There’s an acceleration in the standalone asset management organisations in how they’re approaching operational risk management, with respect to formalising the programme and having a dedicated risk officer,” says Daniel Bender, executive director in the financial services practice at consultancy EY in New York. “The trend

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