In the zone
Operational risk practitioners are caught in a "conflict zone" between the expectations of their businesses and those of regulators, says Chris van Aanholt, group head of op risk at Westpac, in an interview with David Benyon. Op risk's biggest challenge is balancing these expectations day to day
When considering what it is that makes op risk a uniquely challenging risk discipline, Westpac's head of group operational risk, Chris van Aanholt, states that "there is no silver bullet in op risk".
"Credit and market risk are mature, well-established disciplines - they're hundreds of years old - but op risk in many respects is fresh and has to fight harder in its measurement: in its thinking, in its framework, in its modelling. It is having to cut new ground," he says.
Van Aanholt is a busy
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