Banks behind in op risk systems implemetation

LONDON

-- Bank operational risk measurement and management frameworks are not yet being used to drive business decision-making at most firms, according to a new survey by PA Consulting, an international financial services consulting firm.

The global survey, which was conducted during the first quarter of this year and included more than 50 institutions of a variety of sizes, shows that banks are making some progress in installing operational risk tools. However, 7% of banks, or less, are using

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