Op risk still divorced from compensation – survey
A survey of operational risk management across the financial sector finds that op risk managers still have little input on pay and bonus decisions
Repeated calls for compensation to be linked to operational risk criteria seem to have fallen on deaf ears, according to our latest industry survey. Bonuses determined purely by revenue or sales targets were widely blamed for operational failures such as the UK's payment protection insurance (PPI) mis-selling scandal, and many of the UK's banks are moving towards a "balanced scorecard" approach to deciding compensation, while major banks around the world laud the success of linking risk
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