Profile: JP Morgan treasury services moves beyond measurement

"We've got to an environment were there are enough scorecards and metrics in place," says Angus Grandfield, head of operational risk for the treasury services division of JP Morgan Chase's Europe, Middle East, and Africa region.

"Now, our focus is on working with the business groups to raise the bar, in terms of the control environment." Grandfield's call for an increased focus on operational risk management at his firm in 2003 echoes others across the op risk industry who say that while measurement may be sexy at the moment, it's the nuts-and-bolts business of management that deserves more focus.

Indeed, Grandfield has firmly integrated his division's operational risk measurement technology into his management