Execution & process errors: banks try to get beyond blunderdome
Mistakes mean more data for reporting, models and scenarios. But do banks learn from them?
Jump to: Reporting | Modelling | Scenario analysis | Mini-methodology
“D’oh!”
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.
Execution & process errors
Regional and domestic banks rank: 4
Top 10 rank: 6
Number of benchmarking respondents: 10
There are plenty of examples beside Citi’s infamous lockdown episode, a
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