No tick-the-box approach to compliance risks
Op Risk Benchmarking: G-Sibs share fear of regulatory run-ins, but lack common stance on modelling, KRIs and more
This article is the latest in our series scrutinising op risk practices at the world’s biggest banks – a new initiative. The other articles in the series can be found here.
There’s a simple way to manage regulatory and compliance risk: just follow the rules.
Unfortunately for big, global banks, following the rules is difficult. They have many businesses, in many jurisdictions, so are bound by a tangled web of constraints. That web shifts as the rules change, and as regulators interpret or
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