Re-balancing risk priorities
Op risk managers are taking an integrated approach to the two thorns in their side – Basel II and SOX – writes Choongo Moonga
Over the past three years, operational risk management under Basel II has been overshadowed by Sarbanes-Oxley (SOX) compliance for US-based publicly traded banks. This is not so surprising, given the 'hard' deadlines associated with SOX compliance, and the uncertainty surrounding Basel II implementation in the country.
But in an apparent re-balancing of risk management priorities, many financial institution executives are beginning to establish a compliance management framework that bundles both
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