The benefit of hindsight
Investment banks are only just focusing on op risk, but this means they can learn from their commercial peers. Nick Kochan looks at some of the approaches they are taking
Barings, National Australia Bank, Kidder Peabody... the list of failures runs on and on. Not only have these operational risk failures at investment banks been costly, but they have also been headline-grabbing. The price is institutional embarrassment and stock price meltdown at best, total collapse at worst.
The losses in investment banking-related activities are becoming more frequent and the price of risk higher. Penny Cagan, managing director at Algorithmics, which runs the First database of
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