Execution & process errors: banks try to get beyond blunderdome

Op Risk Benchmarking: Mistakes mean more data for reporting, models and scenarios. But do banks learn from them?

This article is the fourth in our series scrutinising op risk practices at regional, domestic and other lenders – see the methodology below for more detail. The other articles in the series can be found here.


Banks fear run-of-the-mill errors for the same reason everybody does: they’re impossible to eliminate. What is possible, heads of operational risk hope, is doing a better job of catching them before they morph into billion-dollar losses.

There are plenty of examples beside Citi’s

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