French banks behind on op risk


PARIS -- France’s banking sector is behind many of its European competitors in its operational risk management preparations for both Basel II and the European Union’s capital adequacy directive.

Risk management consultants advising the sector warn that France’s banks tend to neglect the importance of qualitative stipulations, such as the need for an appropriate op risk management infrastructure and culture.

Says Stein Berre, a director in the finance and risk division at Mercer Oliver Wyman in

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