Survey shows broadening mandate of op risk managers

London -- A recent readership survey conducted by Operational Risk magazine showed that the role of the op risk manager is broadening in scope significantly. As firms get to grips with the ways in which op risk can impact their organisation, it seems they are asking op risk managers to have more and more input into business line decisions.

For example, 82% of the financial services executives who responded to the readership survey had responsibility for, or provided key input into, decision-making on enterprise-wide risk management within their firm. Some 63% were involved at this level with decision-making into fraud prevention, while 62% were involved in back-office technology decisions. Some 72% were involved directly in business continuity, with 27% having final responsibility for spending decisions.

Op risk arena expanded

"Thi