Another chance for enterprise-wide risk management

Are operational risk departments ready to take on the function of enterprise-wide risk management? Choongo Moonga reports

This call-to-arms has met with strong approval in the US, where op risk managers often struggle with the task of achieving management buy-in to their discipline. This is in part because Basel II has not achieved the kind of broad acceptance that it has in Europe and other parts of the world – it continues to be the subject of political wrangling in Washington DC and the release of the notice of proposed rulemaking implementing Basel II has been postponed from April 2005 to the first quarter of