European demand for op risk talent set to surge in 2003

LONDON — Executive recruiters are seeing a strong rise in interest in hiring operational risk talent for commercial and investment banks, and dozens of fresh mandates.

"One of the influential factors in bringing operational risk to the forefront at the moment is the third quantitative impact study (QIS3)," says Matthew Alford, principal consultant for risk management at Wimbledon-based Pacific International executive recruitment firm. "It’s acted as a catalyst to really push op risk forward, as people realised how much work they needed to do."

QIS 3, which was essentially a dry-run for gathering the kind of compliance information that banks will have to

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