May 23, 2014
From the Advisory Institute
Operational risk has become an increasingly important focus for financial institutions and regulators ever since the financial crisis. The industry has had to deal with wrongful foreclosures, trading scandals, cyber threats, third-party concerns and disruptions such as those created by Super Storm Sandy.
Against this backdrop, The Risk Management Association (RMA) and KPMG LLP teamed to conduct the Operational Risk Management 'Getting to Strong' Survey.
Survey participants shared their insights into operational risk management (ORM) practices in support of enhanced business value, heightened regulatory expectations for strong risk management and Basel AMA use-test compliance.
Hugh C. Kelly, Principal
U.S. Leader, KPMG Bank Regulatory Advisory