Op risk practices mature, but inconsistent
BASEL - Operational risk management has evolved and matured, but continues to suffer from widely different practices in key areas that will have to be addressed by banks and supervisors, says a paper from the Bank for International Settlements' subgroup on operational risk (Sigor).
"Sigor has seen a maturation of practice in many areas of operational risk management and measurement. Nevertheless, there continues to be a wide and diverse range of practice in key governance, data and modelling
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