Strategy, structure and information at Halifax
An example of the 'strategy, structure and information' format for managing operational risk (see related story) is well underway at UK mortgage banking group Halifax. Ammy Seth, London-based head of special risk areas at Halifax, says the scope of its operational risk management system extends from business lines all the way up to board-level corporate governance.
The bank developed an operational risk strategy with professional services firm Andersen in May 2000. This led to a structure for
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