Banca Intesa: conquering the cultural challenges of op risk
MILAN -- Much ink will be spilled over the more quantitative aspects of operational risk -- modelling, data gathering, technology infrastructure, for example. But it’s the cultural challenges of implementing an operational-oriented framework that risk managers are finding the most difficult to grapple with. Maria-Louise Arscott, head of operational risk at Banca Intesa, based in Milan, says "Unlike market and credit risk -- where when something goes wrong it is either the market’s fault or the
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