Operational Risk and Resilience

tions can maximize the risk:return ratio by establishing shared

service centres and entering into joint ventures and mergers.

Finally, we examine some responses to new corporate require-

ments, such as those embodied in the Turnbull report.

The chapter as a whole is structured as follows:

1 Financial institutions at the leading edge;

2 Changes in the e-business world;

3 Risk and restructuring:

•

shared service centres

•

joint ventures

•

mergers and acquisitions

4 Corporate governance pressures.

Financial institutions at the leading edge

Introduction

The sophistication of operational risk management practices

and their implementation is not uniform across sectors. ...