Profile: Dresdner makes loss prevention a new priority

Operational risk management is a management programme, not just a modelling exercise, according to Jonathan Howitt, director of operational risk at investment bank Dresdner Kleinwort Wasserstein in London.

Indeed, Howitt’s team have moved well beyond the data gathering stage of developing an op risk framework and have put in place a comprehensive structure designed to contribute to the development of the company, rather than simply focus on regulatory compliance. Said Howitt, in an exclusive interview with Operational Risk, "The regulators are telling us we need clothing, so we will have clothing, but what we need to wear has not been dictating our operational risk programme."

To begin with

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