Op Risk Benchmarking 2024
On resilience risk, banks prepare to let the bad times roll
Lenders bolster first-line teams and upskill boards as compliance with new rules bites
Public enemy number one: the threat to information security
Nearly half of domestic and regional banks report risk appetite breaches amid heightened sense of insecurity
Op Risk Benchmarking 2024: the banks
As threats grow and regulators bore down, focus shifts to the first line
Banks feel regulatory heat on op resilience
Op Risk Benchmarking: supervisors dial up reporting expectations and on-site inspections
Tired of fat-finger blunders, G-Sibs turn to robots for help
Big banks speed up shift towards control automation and AI adoption to counter costly human errors, Benchmarking survey finds
On geopolitical risk, G-Sibs choose their battles
Conflicts – both existing and threatened – raise concern among banks, but many are still grappling to weave the risk into their frameworks
For compliance risk, the big get bigger
Second-line teams have been growing at US G-Sibs – and are set to continue – while Europeans’ flatline
For G-Sibs managing cyber outages, confidence makes the difference
IT disruption drops among top G-Sib concerns this year, as banks revamp models and retool risk indicators
Information security: mind the first-line gap
G-Sibs’ second-line cyber teams still growing, survey shows; others are overhauling KRIs and switching vendors
Op Risk Benchmarking 2024: the G-Sibs
Eleven large banks feature in round II, with new data points on first-line risk teams, taxonomies and AI adoption
Cyber insurance costs still rising, say big banks
Op Risk Benchmarking: Cost of covering same exposure as last year now “somewhat” or “significantly” higher
Top 10 op risks: AI fears drive cyber risk to record high
External fraud re-enters top 10; change management now a top five concern