A comprehensive risk and control self-assessment methodology
Looking back, it’s easy to see how having simple controls in place can help prevent so many op risk disasters. In a series of articles for ORR, Gene Álvarez and Phil Gledhill provide a comprehensive risk and control self-assessment methodology, and an associated scenario analysis approach
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The business landscape is littered with the wreckage of financial and corporate institutions that paid too little attention to effective risk management and internal controls. Costly litigation continues to fill court dockets with trials for crimes allegedly committed but undetected, shattering careers and bankrupting institutions. In 1995, Nick Leeson single-handedly wiped out the capital and reputation of one of the oldest, most
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