Beyond the AMA
Rob Anderson, head of operational risk and security at National Australia Bank, says joining an AMA-accredited institution has given him a "ticket to the game", meaning he can concentrate less on gaining AMA approval and more on managing business risks. He talks to Wietske Blees
In January 2008, French bank Societe Generale was sent reeling after revelations of rogue trading losses. In a catastrophic failure of operational risk management, one trader, Jerome Kerviel, had managed to circumvent the bank's control processes, racking up losses to the tune of EUR4.9 billion. An unfortunate reminder of the importance of strong control processes, the episode spurred risk managers around the world to test their systems for similar flaws. For National Australia Bank (NAB), the
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